Altcoins Talks - Cryptocurrency Forum
Learning & News => For Beginners => Basic Questions about Cryptos => Topic started by: Ojima-ojo on June 27, 2024, 12:39:01 AM
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
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As not beginner, it's the same ;D
you'll buy it will go down, you sell it will go up ... just hodle ;D
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
I believe that beginners should also not buy BTC because then they will not have enough confidence and experience to hold BTC to profits. They will often worry too much and sell BTC as soon as the market shows negative signals, or they will FOMO and sell BTC to buy ALTS with the expectation of getting higher profits in altseaon in the future.
Beginners should take the time to learn about the crypto market and learn technical analysis to gain more knowledge and investment experience from trading cases. If they want to trade, they can use a Demo account to avoid losses during the learning process.
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Yes, dear, I agree with you one should have sufficient knowledge about the crypto space before jumping into it as FOMO, FUD are very common in investors who don't have market analysis, fundamentals, These kind of newbie investors don't know the right buying and selling strategies. I have seen some cases where a newbie steps into the crypto space and starting from future trading with high leverage, which in resualt they have to face big losses.
And for that you really have suggest a good tip for newbie to experience first by using demo accounts, which may give them kind of idea of how actually works and on the same side many of the newbie fell prey to the social media scammer and got into the trap of them They join paid TG groups and use their signals and when it made them lose, the only thing left behind is just repent. So, one should get or learn about the crypto space first and then he/she should step forward.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
I am glad you made your first topic please keep it up and keep contributing to this forum. Speaking of your advice I loved it. Although not all newbies are smart they think they can make money from trading as well. Many people fear to take the first step, and once they do it and make even there first dollar they become greedy and that's must.
Every newbie will become greedy and will increase its capital to earn more and end with big lose or losing it all. The best advice for all people including newbies and experts, will be play safe, minimize the risk, and yeah holding BTC is a good option but it can't keep your bill paid regularly so learn trading from some expert or make your brain smart enough that you could learn it by yourself. Trading is not that hard.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
For me, I also think I really agree with this statement. In fact, this has probably already been discussed in several discussions. However, it doesn't matter because many people still ignore something as basic as this.
Usually, newbies enter the world of crypto because of several things, one of which is because they are exposed to quite a lot of hype or news in the media. And in the end they are on this forum. Unfortunately, not all newbies really understand what to do in the beginning. That's why, usually, they will also follow along with influencers or from several sources without studying it first. Well, that's a shame, it's just going along with it.
We know very well that many traders are successful in crypto, and they also often share their experiences and earnings. Well, this is where newbies are tempted to do the same thing for trading with high hopes of achieving high profits. but unfortunately they don't understand that trading is very high risk. So yes, just carelessly, the fall becomes like gambling. Instead of making a profit, it's a loss.
And I agree that the most recommended thing for newbies at the start of a career in crypto is, well, it's better to just invest in Bitcoin. This still has risks but at least it is less risky than jumping straight into the world of crypto trading. So, while holding, newbies can really start learning about trading, strategy, analysis, and so on. And this definitely needs a process, it really needs a process.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
Many newbie investors are aspirants of trading. They think that it's easy to make money through trading in the market but once they start to experience it, they will regret and realize that trading isn't for all. There can be lucky first time testers that they're able to make money as they trade but it won't be stable. That's why only the ones that are enduring for so long are the ones that are staying here and able to develop themselves and become better traders in the long term.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
For me the first rule of thumb is to really educate yourself, what I mean is that know the best security practice first, and safety hygiene like how to protect your mnemonic phrase or seed or privatekey. Otherwise if you don't know this in the beginning and you are after that so called profits and get rich quick, then you might lose all the money that you earn if you don't know how to protect your assets.
As for trading, it's not easy and I will say that it's not for everyone. Maybe you can try in the beginning, but it's very hard and it will take you sometime to get that experience and it also means that you are going to lose big money in the process.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
I believe that beginners should also not buy BTC because then they will not have enough confidence and experience to hold BTC to profits. They will often worry too much and sell BTC as soon as the market shows negative signals, or they will FOMO and sell BTC to buy ALTS with the expectation of getting higher profits in altseaon in the future.
Beginners should take the time to learn about the crypto market and learn technical analysis to gain more knowledge and investment experience from trading cases. If they want to trade, they can use a Demo account to avoid losses during the learning process.
I don't think that a beginner who wants to invest in bitcoin and hodli for long term needs to know all that you mentioned above. He only needs to understand the basic knowledge of bitcoin which one of them is to invest in a long term to limit the risk in bitcoin due to her volatile nature. DCA method is good for a beginner to start with because he is not selling but only buying for 4 years and above. If he continues with his regular DCA weekly or monthly consistently without stopping, he will buy bitcoin irrespective of the price at that moment. You can be investing and learning about bitcoin at the same time. Trading is not investing.
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Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to protect yourself from possible unrecoverable loses.
You cannot learn trading completely from the outside without some practical experience, and this is what the demo accounts are for: to give you a practical experience of the market without you losing your funds. While demo accounts are good to start with, they are not good to dwell on for so long because staying too long on the demo account would not teach you about the emotional and psychological side of trading, which is very important and key to every trader.
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I don't think that a beginner who wants to invest in bitcoin and hodli for long term needs to know all that you mentioned above. He only needs to understand the basic knowledge of bitcoin which one of them is to invest in a long term to limit the risk in bitcoin due to her volatile nature. DCA method is good for a beginner to start with because he is not selling but only buying for 4 years and above. If he continues with his regular DCA weekly or monthly consistently without stopping, he will buy bitcoin irrespective of the price at that moment. You can be investing and learning about bitcoin at the same time. Trading is not investing.
First of all, we are all traders and participate in trading. We buy and sell, whether daily, weekly or monthly, we are all trading. The only difference is the holding time, and we usually divide investors into intraday-traders and holders.
Buying and holding for more than 4 years will generate profits that have been confirmed based on the past of the price chart, however, as I mentioned, investors will find it very difficult to continue to hold BTC in their accounts if they do not have faith, and faith can only be achieved based on understanding. I myself have suggested to my friends to buy and hold BTC but they quickly sold BTC to buy ALTS and received lower profits or even losses.
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Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
It's all really gradual... you can't trade with large amounts when someone is new to the world of cryptocurrency trading... cryptocurrency price fluctuations are different from stocks, where in the cryptocurrency world, volatility is crazier than stocks or bonds... even 1 hour In the future, there could be unexpected surprises that come suddenly... that's very normal.
Your warning is very good, because to start trading, it is highly recommended to start with free money with a small nominal amount first... along with increasing experience. Gradually someone must keep learning it in order to increase their knowledge about trading.
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Many opt for trading in the hope of short-term profits, which may pose some risk to the inexperienced in terms of capital loss. You should conduct extensive research into the crypto selection process and investment decision. For you to get profit from trading it is more important to choose currency which can protect your valuable margin and you can take high profit.
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There is no doubt that trading cryptocurrencies is very risky, but I will just say that owning cryptocurrencies is also very risky for anyone who is not aware of the risks. Many investors actually lose their coins long before they can sell them because one of the following happens to them:
- storing coins on online wallets/CEXs that can result in loss at any time - whether it is due to platform hacking or phishing hacking.
- downloading a fake desktop/mobile wallet that eventually steals everything you have.
- downloading a virus/malware that can then contain a clipboard virus or a RAT (remote access trojan) that gives the attacker full access to your computer.
These are just some of the ways in which an inexperienced investor can experience disaster - so the question arises, is there a difference in whether he will lose money on trading or as a holder?
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Experience is a must because if you trade without vast knowledge about trading then you are most likely losing profit in a short time. That's the reason why a person shouldn't just dive in a body of water that no one have checked yet and in crypto, the same saying goes as well. Once again, when you see a body of water then you won't be able to know if it's deep enough to jump or not while in crypto is the same thing that you have to know about it first before trying.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
The first thing is this topic is not suitable for this section. I think it will be more valuable when you place it in the trading section. But as you're a newbie, you can take note of this for next time. Coming to the topic, at the beginning stage, a person needs to focus more on learning rather than hodling BTC. In the beginning stage, a person is easily scared and may sell his BTC at a loss. We know that in the market, speculation about BTC and altcoins often arises. If negative news spreads in the market, there is a higher chance of experiencing FOMO, leading to selling BTC and facing losses. Therefore, it's very necessary to acquire more knowledge and information about the market and BTC behavior so that if such news emerges in the market, one can easily overcome it.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
The first thing is this topic is not suitable for this section. I think it will be more valuable when you place it in the trading section. But as you're a newbie, you can take note of this for next time. Coming to the topic, at the beginning stage, a person needs to focus more on learning rather than hodling BTC. In the beginning stage, a person is easily scared and may sell his BTC at a loss. We know that in the market, speculation about BTC and altcoins often arises. If negative news spreads in the market, there is a higher chance of experiencing FOMO, leading to selling BTC and facing losses. Therefore, it's very necessary to acquire more knowledge and information about the market and BTC behavior so that if such news emerges in the market, one can easily overcome it.
Newbies that will panic and sell due to FUD are the ones that think Bitcoin is a get rich quick scheme and they decided to buy bitcoin to make profit from it in a short-term. If a newbie decides to buy bitcoin and hodli or use bitcoin as his monthly savings instead of keep fiat in the bank. If the price of bitcoin dips he will not sell but he will be learning to understand how bitcoin market is like. Without buying and hodli how will you have experience in the market by mere theory, it can not be the same with someone that has his bitcoin portfolio because he will be emotional. No bitcoin, no emotion when the market dips or pumps. A newbie only needs the basic knowledge of bitcoin to start his bitcoin investment and learn at the same time, because bitcoin price will not wait for you before pumping.
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I think holding bitcoin is not as risky as it was 10 years ago.
You can buy some bitcoin to diversify your portfolio .
Where I live, Brazil, holding bitcoin is amazing because it also serves as a hedge against my fiat currency poor performance. It is a way to move some of my holdings off the risks of my developing country...
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Where I live, Brazil, holding bitcoin is amazing because it also serves as a hedge against my fiat currency poor performance. It is a way to move some of my holdings off the risks of my developing country...
Bitcoin as a hedge but not the best, if you really want to secure its value Gold may be an option.
But Bitcoin is a volatile asset because it has a high volume.
The main reason why you should hold bitcoin is because it continues to be developed and become a revolutionary digital asset and its price continues to rise. There will be more profits obtained faster than other assets such as Gold.
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I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x
So what is the most recommended way to learn trading completely? Of course there are many theoretical trading lessons on the internet, but beginners need practical and interactive lessons.
If someone close to you shares success stories from trading and can prove it, usually he doesn't mind becoming a personal trading mentor. For me it's no problem getting into trading with a situation like that, it's even better than looking for a paid mentor online with an unclear portfolio while a beginner is betting with real money.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
A beginner can make money from trading than even a pro, the criteria here is the knowledge, understanding the use of the knowledge and the right time in both technical and fundamental analysis, that's all that matters in trading. If a newbie is dedicated and want this to be successful, it's only matter of time before it happens, that's how I see trading and this is how I believe others see it as well.
However, if you have the mindset of been greedy, I mean a typical type of trader that love doing futures, more like gambling, this is the shortest way as possibly for a trader to lose all his money as possible. A newbie trader who practise spot trading can manage to hold a coin if it's a good coin and forget to use a stop loss untill the profits has been recover back but you can't try that with futures.
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Becoming a bitcoin hodler is also not easy, you have to have a good and stable income so you can buy bitcoins continuously. I have seen many beginners who initially had strong intentions of investing in Bitcoin for the long term but ultimately were unable to maintain that intention because they were short of money.
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Bitcoin as a hedge but not the best, if you really want to secure its value Gold may be an option. But Bitcoin is a volatile asset because it has a high volume. The main reason why you should hold bitcoin is because it continues to be developed and become a revolutionary digital asset and its price continues to rise. There will be more profits obtained faster than other assets such as Gold.
For sure, gold is one of the safest assets to go into and due to rising demand globally it is also projected that its price will rise a lot in the next few years - maybe $10,000 per ounce in the next five years (https://news.metal.com/newscontent/101763619/gold-prices-may-skyrocket-to-10000oz-within-the-next-five-years) - however its potential for profits may not be on the same level for Bitcoin though this is riskier because of its known volatility feature. So why not invest in gold and Bitcoin at the same for some diversification? Going back to the idea of holding Bitcoin for beginners, I think it can be a good idea for some though not for all, of course, as no formula can be fit for all people. So I am suggesting to newbies to invest more time to learn and evaluate themselves of what they really want into the future so they can then be educated with the options available right on their fingertips.
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Yes trading is actually much riskier than investing and so also, it requires more technical knowledges and more money to withstand the trading demands while investing may enable you to cope along even just with a basic knowledge and you can also invest with the little you can afford.
Although trading could give a quick income so also a quick lost while investing may take awhile with the ups and downs of the market trends requiring to hold patiently untill market increases above the value you bought before you can make profit.
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Where I live, Brazil, holding bitcoin is amazing because it also serves as a hedge against my fiat currency poor performance. It is a way to move some of my holdings off the risks of my developing country...
Bitcoin as a hedge but not the best, if you really want to secure its value Gold may be an option.
But Bitcoin is a volatile asset because it has a high volume.
Investing in Bitcoin carries with it certain risks that I already mentioned in the previous post, so you should not focus only on the price. However, it should be noted that Bitcoin has achieved hard-to-imagine successes in relation to gold in the period from 2009 to today.
The price of 1 ounce of gold that year was between $900 - $1200 (https://sdbullion.com/gold-prices-2009), and today it is around $2300 per ounce, which is not at all impressive if you take into account the inflation in the period between then and now.
The main reason why you should hold bitcoin is because it continues to be developed and become a revolutionary digital asset and its price continues to rise. There will be more profits obtained faster than other assets such as Gold.
That's something we can speculate about, but we don't know what the future holds in that regard. The reason why Bitcoin is so valuable is that it is decentralized, has max supply and volatility - but let's not forget that it is part of the mainstream only because the most powerful governments in the world (except China) let it prosper by giving it platforms like CEXs through which most of the trading is done.
This can change at any time and this is where, in my opinion, the biggest risk is - of course not for the survival of Bitcoin, but for the price that attracts the most investors who want a relatively quick profit. Therefore, the best advice is not to keep all eggs in one basket.
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Beginners or Not, having basic knowledge or advanced knowledge about crypto, it really doesn't matter, trading comes with lots of risks for everyone, Bitcoin or shitcoins, the risks involved are just tge same, the best approach is to HODL, no matter the current market condition, juwt HODL because trading requires one to be able to predict the next move of the market, and like we already know, no one can predict the future which so whether a beginner or not, what they'll be doing is simply gambling.
This is why Bitcoin is considered the best crypto asset to HODL, because by HODLing for the long time and considering its long-term trajectory regardless of the short-term fluctuations, you'll be sure to stay in profit.
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Investing in Bitcoin carries with it certain risks that I already mentioned in the previous post, so you should not focus only on the price. However, it should be noted that Bitcoin has achieved hard-to-imagine successes in relation to gold in the period from 2009 to today.
There is risk everywhere...
Even when we hold just dollars we are exposed to inflation or just dollar losing value.
If we invest in high grade companies we are also exposed to many risks.
I believe the best strategy is to diversify among different risks , so when some assets go down, others go up and you can have some balance. A small share of bitcoin is welcomed imo
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
not sure if there are many but indeed that there are some who enters trading without deep knowledge and ended up blaming this market because of their own greediness and stupidity.
Trade when your knowledge is more than enough to bring you income.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
but where did you get that statistics? about x10 chances of losing when there are no adequate knowledge?
what i only knew is that there are large chance of losing instead.
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Dear I like your idea as i also used to think in this way and even i also suggest other to follow this strategy of diversification where it help one to manage his risk over his investment very well. As far as i remember i also suggest this opinion in my threads on BTT if i am not forgetting it besides this you may see some of my post suggesting other to use/follow this strategy that can help them but i also suggest them along my suggestion that they should do their own research as well and they can use my advise/suggestion as a reference which may help them as well.
Although holding USDT also have kinda risk but the risk is low here as compared to other very fluctuated currencies and this is just an opinion you can correct me here if you feel it in a better way dear! But the best is that diversify and earn as holding USDT will not return us nothing profits and for earning some profits we have to take and manage our risk. what do you say dear? DYOR!
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We don't have to go beyond our boundary all because we wanted to trade and do it while we should still be learning on how to do it, though for some instances we cant assume that its better for them to hold instead of doing a short time trade that they may not afford to mange or comprehend, we also have to consider starting anything being a newbie with what we can afford to lose in case of uncertainties, trading is easy and simple to do but must be done with caution and deep insight on how the crypto market works.
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Investing in Bitcoin carries with it certain risks that I already mentioned in the previous post, so you should not focus only on the price. However, it should be noted that Bitcoin has achieved hard-to-imagine successes in relation to gold in the period from 2009 to today.
There is risk everywhere...
Even when we hold just dollars we are exposed to inflation or just dollar losing value.
If we invest in high grade companies we are also exposed to many risks.
I believe the best strategy is to diversify among different risks , so when some assets go down, others go up and you can have some balance. A small share of bitcoin is welcomed imo
This is not at all doubtful, risks are an integral part of every investment and all those who are serious investors will always try to reduce these risks to the smallest possible extent. I was referring more to the specific risks arising from the fact that Bitcoin is something that can be categorized as a digital asset with very high risks from various threats related to possible hacking, whether it is storage on CEXs or any type of digital wallet.
Investing in gold, stocks or maybe even real estate is much less risky for me personally, but of course not as profitable as Bitcoin. However, I would always advise some people who are rash, have no self-control and do not understand the basics of cryptocurrencies to avoid such investments - not because I don't want them not to profit, but because they will probably lose their money rather than profit.
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This can change at any time and this is where, in my opinion, the biggest risk is - of course not for the survival of Bitcoin, but for the price that attracts the most investors who want a relatively quick profit. Therefore, the best advice is not to keep all eggs in one basket.
In essence, the two instruments have several advantages and disadvantages each.
Gold may be more stable, but its value won't grow as much as bitcoin for decades, but Bitcoin was able to rise by millions of percent in just a few years and become the most incredible digital asset to date.
Everyone is interested in the rise in the price of Bitcoin which ultimately changes the value of bitcoin and many people are interested in faster profits.
And yes, don't store eggs in just one basket, there are many other baskets that need to be filled to get more space and more profits to come.
When one basket falls then the other basket will not necessarily fall.
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We don't have to go beyond our boundary all because we wanted to trade and do it while we should still be learning on how to do it, though for some instances we cant assume that its better for them to hold instead of doing a short time trade that they may not afford to mange or comprehend, we also have to consider starting anything being a newbie with what we can afford to lose in case of uncertainties, trading is easy and simple to do but must be done with caution and deep insight on how the crypto market works.
Trading isn't something you can do and get it immediately. It's like someone who is trying to understand how to drive. You know before starting the physical driving, you must have undergo some teaching class about driving and it's the time for driving the car, you will first start from the elementary steps down to the other important things. The more you drive, the likely you might do some mistake and the more experienced you become. This is exactly how trading works in my ways of understanding it.
You can't just learn everything about trading and say you are a good trader without the experience of trading, without experience I'm not sure you are going to last without these experience.
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don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
People who do that are doomed to failure before they even start trading. There is a lot to learn, practice and think before starting to trade, at least with more or less "high" fund volumes. Trying the first steps with very small amounts ($50 - $100) can be healthy and give us an idea of how to improve our way of acting, but trying to do it at the same level as other users with years of experience (and losses) is like jump out the window and think that we are not going to break any bones. With patience we will always go further and the results will be better.
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don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
People who do that are doomed to failure before they even start trading. There is a lot to learn, practice and think before starting to trade, at least with more or less "high" fund volumes. Trying the first steps with very small amounts ($50 - $100) can be healthy and give us an idea of how to improve our way of acting, but trying to do it at the same level as other users with years of experience (and losses) is like jump out the window and think that we are not going to break any bones. With patience we will always go further and the results will be better.
Yes, basically, there are several ways to get profits in crypto business. And trading is just one of them. It's true, it's true that people say that trading can really change a person's fate for the better. Well, this is quite tricky for anyone who is just getting into the world of crypto.
We may often think that trading is a very common endeavor. but after trying it myself, it was really difficult. So if we see other people who seem so easy, then their level is already above us. Because, it requires a process that is definitely difficult and complicated. Oh, and the newbies? Forget about doing analysis, they immediately place pairs for trading, that way, they are traders. And this is what newbies must avoid, newbies will always be like that so it is quite important for us to avoid.
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whether or not you have training with trading cryptocurrency there is always going to be a case where are you will lose the trade and then you would Be emotional in someway. so if you are really interested in trading, You should be competent and emotionless. Probably trade with a bot.
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Re: As a beginner, stay away from trading and focus more on holding Bitcoin
They will not know it if they will not try trading.
I've also heard that when I was still a newbie. I'm curious about trading. Tried it, lost all of my money. That's the time when I decided to just hold on my Bitcoins instead of giving it away.
Sometimes, letting them experience the worst thing will make them realize that it would be better if they will just do another thing. Sometimes, curiosity gets us, and we will only realize our mistakes when we lost huge amounts of money. For beginners out there, don't be like me, and other users here. Don't trade if you have an inadequate amount of information. You can try so that you can decide in the future whether you want to continue trading or will just focus on holding Bitcoin.
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Re: As a beginner, stay away from trading and focus more on holding Bitcoin
They will not know it if they will not try trading.
I've also heard that when I was still a newbie. I'm curious about trading. Tried it, lost all of my money. That's the time when I decided to just hold on my Bitcoins instead of giving it away.
Sometimes, letting them experience the worst thing will make them realize that it would be better if they will just do another thing. Sometimes, curiosity gets us, and we will only realize our mistakes when we lost huge amounts of money. For beginners out there, don't be like me, and other users here. Don't trade if you have an inadequate amount of information. You can try so that you can decide in the future whether you want to continue trading or will just focus on holding Bitcoin.
Its needed for beginner keep trading and get experienced how to control emotion with trading position loss or earn much profitable, I don't sure how to get experienced for beginner only focus with holding bitcoin than trading because not all beginner have stable financial and hold as longer time for their bitcoin assets.
Trading can help us earn much profit in short term or take daily and weekly profitable than become long term holding need around several years later taking profit. All people realize with how potential profitable earn by holding for long term but we can't denied with many trader need get profit in daily day.
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This can change at any time and this is where, in my opinion, the biggest risk is - of course not for the survival of Bitcoin, but for the price that attracts the most investors who want a relatively quick profit. Therefore, the best advice is not to keep all eggs in one basket.
In essence, the two instruments have several advantages and disadvantages each.
Gold may be more stable, but its value won't grow as much as bitcoin for decades, but Bitcoin was able to rise by millions of percent in just a few years and become the most incredible digital asset to date.
Everyone is interested in the rise in the price of Bitcoin which ultimately changes the value of bitcoin and many people are interested in faster profits.
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What gold has is the millennial trust that has already deeply rooted in people, and Bitcoin is honestly still very far from that. Young people are logically more inclined to some new ways of investing, but you will have a hard time convincing people who are 50+ years old that it is more profitable to invest in Bitcoin than in gold or government bonds.
I will give an example of a country within the EU which, in the past 1-2 years, started massively issuing government bonds and treasury bills (which was never the case before). In a very short period, about $4 billion EUR was invested, and they are invested mainly by retirees who publicly admit that there is nothing else they can invest in.
What I want to say is that Bitcoin cannot change the mindset of people who have been instrumentalized to such an extent that they only believe what their government says through the mainstream media.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
Nice decision, but in my opinion, beginners should have better understanding before entering into trading or holding bitcoin, as both involve risk. Some begineers will think that holding bitcoin is risk free, but it is not. It is just that bitcoin has a lesser risk when comparing with trading.
I see how people are profiting from holding, and that has always inspired me to start holding, but with the knowledge I have, I don't think I'm competent enough to trade or start holding, which is why I'm still doing research and learning about it, and that is the advice I'll give my fellow newbies, they should stick to learning before making any investments.
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Nice decision, but in my opinion, beginners should have better understanding before entering into trading or holding bitcoin, as both involve risk. Some begineers will think that holding bitcoin is risk free, but it is not. It is just that bitcoin has a lesser risk when comparing with trading.
I see how people are profiting from holding, and that has always inspired me to start holding, but with the knowledge I have, I don't think I'm competent enough to trade or start holding, which is why I'm still doing research and learning about it, and that is the advice I'll give my fellow newbies, they should stick to learning before making any investments.
There is a good thing that is taught in the words "it is better to hold Bitcoin" which is that it should also not involve the emotions of the holder... so far beginners have always paid more attention to short-term price movements... perhaps because of the effect of the new things they are starting to learn ... what is certain is that to be able to gain profits by holding is, never drown in FOMO... involving feelings of worry is usually the main reason why some people fail to become holders... even though it takes longer to get profits from holding BTC .
If someone always thinks about optimism every day, of course good things will happen... even though market fluctuations are unavoidable, based on high confidence, it will just be a storm that will be missed.
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Going into trading without adequate knowledge means you are swimming in the sea without a boat. It must be right for beginners that you don't bet money without knowing anything about trading. Most of the new crypto users are inspired to trade by watching others trade which is why they lose a lot of money. Moreover if you do your research on investing, you will quickly become experienced in this matter. But to become experienced in crypto trading, you need years of practice and waste of money.
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Yes, basically, there are several ways to get profits in crypto business. And trading is just one of them. It's true, it's true that people say that trading can really change a person's fate for the better. Well, this is quite tricky for anyone who is just getting into the world of crypto.
We may often think that trading is a very common endeavor. but after trying it myself, it was really difficult. So if we see other people who seem so easy, then their level is already above us. Because, it requires a process that is definitely difficult and complicated. Oh, and the newbies? Forget about doing analysis, they immediately place pairs for trading, that way, they are traders. And this is what newbies must avoid, newbies will always be like that so it is quite important for us to avoid.
A fairly common mistake that newbies make is to base trading on guides and tutorials that they read on the internet, and that is a serious mistake. The best way to learn is starting from 0, not reading guides written by traders with 10 years of experience. While it is true that the guides can give us certain guidelines, what we should not do is trust our funds to other people's ways of working. With patience we learn much more and better, and we will not put our money at risk.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
Trading is a work that every person must have spent some time on it and most of them left it due to lack of knowledge and lots of loss. Without knowledge of exchanges, volume, candles, charts, charts are not that necessary only the knowledge of fundamental factors of the coin can give a newbie some help to start with. Most of the people are following other trading influencers and some are copy trading.
This only leads them to losses and they don't learn anything. The best way is to do study first then practice then give try to trading if things go right go with it otherwise give yourself and the market some time. Understanding the cycle of the market for example if it's bear or bullish is also necessary for a newbie to start trading. Holding is also a better advice.
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whether or not you have training with trading cryptocurrency there is always going to be a case where are you will lose the trade and then you would Be emotional in someway. so if you are really interested in trading, You should be competent and emotionless. Probably trade with a bot.
Being emotional is something that most humans already have. I mean it's a human nature, but we must know how to be emotionless when it comes to investing.
Being emotionless in trading is very hard. I myself is emotionless when it comes to investing because I'm not making impulsive decisions when the market is tumbling down or rising up significantly, but when it comes to trading, my emotions are very different. I find it hard to control myself and still making bad decisions. This is the reason why I'm always losing in trading.
Trading using a bot might help traders make better decisions hence, more profits in the long run, but still it depends.
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What I want to say is that Bitcoin cannot change the mindset of people who have been instrumentalized to such an extent that they only believe what their government says through the mainstream media.
As it has been brainwashed, given the mindset that Bitcoin is not something special and cannot compete.
The government only recognizes instruments that they can fully regulate, not like Bitcoin which they cannot regulate despite implementing some strict regulations.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
Trading is a work that every person must have spent some time on it and most of them left it due to lack of knowledge and lots of loss. Without knowledge of exchanges, volume, candles, charts, charts are not that necessary only the knowledge of fundamental factors of the coin can give a newbie some help to start with. Most of the people are following other trading influencers and some are copy trading.
Trading as you may know can be a vying and formidable arena particularly to newbies. Trading has attracted many people, but the high and prevalent Turnover rate suggests that many people attempt it only to quit after losing a lot of money. Even if a trader understands and applies some basic technical elements such as charts, candles sticks, and volume, he or she needs to know some fundamentals about the particular coin or asset. Newbies can use various fundamentals to help explain what influences the value of the particular coin, for example, the purposes for which the coin is used, investors' sentiments towards it, its usage rates, etc. Also, most people use signal services and many people are copying their favorite traders which can be boring if not well managed. The second major factor that may shape trading is education or lack of it along with the understanding of the markets.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
Trading is a work that every person must have spent some time on it and most of them left it due to lack of knowledge and lots of loss. Without knowledge of exchanges, volume, candles, charts, charts are not that necessary only the knowledge of fundamental factors of the coin can give a newbie some help to start with. Most of the people are following other trading influencers and some are copy trading.
Trading as you may know can be a vying and formidable arena particularly to newbies. Trading has attracted many people, but the high and prevalent Turnover rate suggests that many people attempt it only to quit after losing a lot of money. Even if a trader understands and applies some basic technical elements such as charts, candles sticks, and volume, he or she needs to know some fundamentals about the particular coin or asset. Newbies can use various fundamentals to help explain what influences the value of the particular coin, for example, the purposes for which the coin is used, investors' sentiments towards it, its usage rates, etc. Also, most people use signal services and many people are copying their favorite traders which can be boring if not well managed. The second major factor that may shape trading is education or lack of it along with the understanding of the markets.
To become successful in trading, we should not only rely our trades with analysis, it's better to also combine it with fundamental as it contribute the probability of your trades. And this what newbies lack of, they believe that what they learned from others about the strategy is what they really need to be a successful trader. Sometimes they think that it's easy money which can be caused for them to quit. This is what you really need to aware of if you are a newbie.
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To become successful in trading, we should not only rely our trades with analysis, it's better to also combine it with fundamental as it contribute the probability of your trades. And this what newbies lack of, they believe that what they learned from others about the strategy is what they really need to be a successful trader. Sometimes they think that it's easy money which can be caused for them to quit. This is what you really need to aware of if you are a newbie.
Yes, a newbie needs to focus more on the fundamentals for the sake of better understanding and being aware of the news. Newbies often follow only a single path and strategy, which can be their biggest mistake. Sometimes market behavior changes, and to overcome this, they need to apply another strategy. However, due to a lack of flexibility and over-reliance on analysis, they fall behind.
My suggestion is to analyze the market, focus on the related news, and then choose your strategy accordingly. By doing this, they will improve themselves.
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Yes, a newbie needs to focus more on the fundamentals for the sake of better understanding and being aware of the news. Newbies often follow only a single path and strategy, which can be their biggest mistake. Sometimes market behavior changes, and to overcome this, they need to apply another strategy. However, due to a lack of flexibility and over-reliance on analysis, they fall behind.
My suggestion is to analyze the market, focus on the related news, and then choose your strategy accordingly. By doing this, they will improve themselves.
Beginners with a lot of money, even rich people, may have different views regarding holding and trading... sometimes beginners in the world of trading also have to learn technical analysis for short-term trading needs... I myself cannot recommend holding for people who have more free time, because it would be a shame if that free time is not used for positive activities such as learning to trade or learning about other cryptocurrencies...
the opportunities are the same, trading and holding both have the potential to make money, but the style is different... and it is also adjusted to each individual's investment style...
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@Op, you even need to include in your topic that trading is not compulsory and not for everyone. It is not the only way to make money in the cryptocurrency industry. Everyone must not trade
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What I want to say is that Bitcoin cannot change the mindset of people who have been instrumentalized to such an extent that they only believe what their government says through the mainstream media.
As it has been brainwashed, given the mindset that Bitcoin is not something special and cannot compete.
The government only recognizes instruments that they can fully regulate, not like Bitcoin which they cannot regulate despite implementing some strict regulations.
Since 2021, I have an uncle who is learned but he keeps insisting that bitcoin is not money and cannot be money in any country. He said it is only the government that has the mandate to print money and all monies must have a tangible form before it is digital. He said we are all jokers by following one small boy that created a code and called it money. LOL
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You don't have to tell them to stop trading because they are newcomers but you can only tell them not to be greedy and other advises because they have to learn and for them to learn with practical they have t trade. Losing is part of trading and that can make.thrm to learn fast. At least it is not bad if they use small amount to trade. One must start from somewhere. And the basic knowledge is needed to trade.
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You don't have to tell them to stop trading because they are newcomers but you can only tell them not to be greedy and other advises because they have to learn and for them to learn with practical they have t trade. Losing is part of trading and that can make.thrm to learn fast. At least it is not bad if they use small amount to trade. One must start from somewhere. And the basic knowledge is needed to trade.
Agree with what you said, that if they experience a loss in trading, it is something that is also the most important lesson, so they will not repeat what they have done, because that action will make an impression and will continue to be remembered.
Providing education about not trading in the early stages is certainly very good, so that they want to learn first so they can understand it properly, but if they force themselves, of course they can do it, but in small portions, first until they can find the formula and then improve it.
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You don't have to tell them to stop trading because they are newcomers but you can only tell them not to be greedy and other advises because they have to learn and for them to learn with practical they have t trade. Losing is part of trading and that can make.thrm to learn fast. At least it is not bad if they use small amount to trade. One must start from somewhere. And the basic knowledge is needed to trade.
Agree with what you said, that if they experience a loss in trading, it is something that is also the most important lesson, so they will not repeat what they have done, because that action will make an impression and will continue to be remembered.
Providing education about not trading in the early stages is certainly very good, so that they want to learn first so they can understand it properly, but if they force themselves, of course they can do it, but in small portions, first until they can find the formula and then improve it.
Some persons can be motivational at times, even with a series of loss I their trading they can still manage to convince themselves that they are in the right track and their break through is near ;D. Some newbies can be very funny with their actions, and if they did not see any great improvement they will eventually come to a general conclusion that cryptocurrency is a scam, meanwhile they failed to pass through the learning process and apply patient. Crypto is not a get rich quick scheme and if you must make it in the market, then you must exercise patience
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OP is making this as an advise in other to let the newbies understand what is expected from them, when one is starting on something, you don't go big all of a sudden at once, instead, you maintain a steady move closely till you have attained an irresistible stage on that over growth, trading could cause a loss of money while when they hold, they have nothing to lose that waiting till the market begins to pump.
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As it has been brainwashed, given the mindset that Bitcoin is not something special and cannot compete.
The government only recognizes instruments that they can fully regulate, not like Bitcoin which they cannot regulate despite implementing some strict regulations.
You are going to be surprised that the government officials, the ones that passed the law and the ones that enforced the law all have Bitcoin but they are been afraid of the majority. They play two sided game, they will codedly buy Bitcoin and keep with expectations in mind that Bitcoin community will do there things in the bull run and sell but he will be among them saying Bitcoin is it good for the people.
If fairness and choice is allowed by some people that are working for the government to pick between Bitcoin and government financial instruments, many of them will choose Bitcoin before they choose others but they are scared to do it in public, they don't want to jeopardize their source of income from the government.
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Comprehensively looking at trading, we all know it's a risk even to those that might have even gotten the knowledge on crypto trading. As a trader you are proned to experience gain and loss no matter how smart you may be, but the bottom line of becoming a trader is the ability to reduce loss and maximize profit.
I 100% agree with your advice to newbies, because investment is more profit oriented that trading, though it takes longer time.
When I started crypto as a newbie, I dived into crypto trading without adequate knowledge, at first it seemed easy because I was trading on spot and margin, and I was making some gains until the unfaithful day that market turned me down.
I had to close all trading account and fully go and learn about crypto trading, how to read candles and all necessary information before I reopened those accounts because I made a very huge loss.
So as a newbie, it is most safer to invest than to trade.
Though it gave me an experience that's very useful to my trading life.
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What I want to say is that Bitcoin cannot change the mindset of people who have been instrumentalized to such an extent that they only believe what their government says through the mainstream media.
As it has been brainwashed, given the mindset that Bitcoin is not something special and cannot compete.
The government only recognizes instruments that they can fully regulate, not like Bitcoin which they cannot regulate despite implementing some strict regulations.
Those set of people will end up being slaves to their government because they should have their own head to think and make their decisions instead of the government telling them their left from their right. I don't listen to whatever my government says about bitcoin because I know that they will always criticize it since it is not from them and they cannot control it. Whatever that the government cannot control is bad to them and they hate it.
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What I want to say is that Bitcoin cannot change the mindset of people who have been instrumentalized to such an extent that they only believe what their government says through the mainstream media.
As it has been brainwashed, given the mindset that Bitcoin is not something special and cannot compete.
The government only recognizes instruments that they can fully regulate, not like Bitcoin which they cannot regulate despite implementing some strict regulations.
Those set of people will end up being slaves to their government because they should have their own head to think and make their decisions instead of the government telling them their left from their right. I don't listen to whatever my government says about bitcoin because I know that they will always criticize it since it is not from them and they cannot control it. Whatever that the government cannot control is bad to them and they hate it.
When it concerns the government and any new technology disrupting the status quo, the preconception checklist needs to be taken seriously.
Authorities typically hold a bias towards preservation and management of the existing order, thus developing a phobia toward unpredictable change and becoming suspicious and sometimes even hostile toward the decentralized infrastructure such as Bitcoin. The opportunity to think for ourselves and make our decisions means free from oppressive control and making a society more empowered.
It is quite intriguing to know more about your stance concerning Bitcoin particularly because it cuts across sovereignty power and liberty. By choosing to know and decide for yourself, you are taking your freedom, and by doing that you are helping the community to foster into a stronger, informed one.
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Since 2021, I have an uncle who is learned but he keeps insisting that bitcoin is not money and cannot be money in any country. He said it is only the government that has the mandate to print money and all monies must have a tangible form before it is digital. He said we are all jokers by following one small boy that created a code and called it money. LOL
So many people like your uncle in the past, even where I live and see them now hate bitcoin even more because of its incredible price.
Actually, such people are people who do not understand how modern technology works and they only follow the system that has been set up by the government.
Or even they are more interested in the Multi Level business by looking for many members with great profits that are promised.
and your uncle may now be too prestigious to admit that bitcoin is an amazing digital currency and is even recognized by the government.
Your uncle feels sorry but won't say it for the sake of self-esteem. LOL.
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I had to close all trading account and fully go and learn about crypto trading, how to read candles and all necessary information before I reopened those accounts because I made a very huge loss.
So as a newbie, it is most safer to invest than to trade.
Though it gave me an experience that's very useful to my trading life.
That's right, because long-term investing doesn't require doing a lot of technical analysis... so it's very easy to apply even for a beginner... here it's just a matter of time, but for someone who already understands how the market works little by little, of course will start to think about the potential for other volatility... so usually long-term investors will instinctively learn short-term trading as time goes by... because basically the way it works is almost the same, it's just that the time frame used is different.
The transition from long-term investor to short-term trader may require emotional control and more mature thinking... because the intensity of analysis for short-term traders is denser.
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You probably did not tell what these beginners should be doing in the industry in a space of time.
It is actually true that people are attracted to run into trade because they think it is as simple as someone closed to them are doing well on his/her trades when they don't know how to navigate through the market and how they could control their emotions at lost until they could recover.
But right then, even as being advisable not to rush into the trades these said beginners can as much invest whether on in the a befitted and reputable coin, keep holding and if trading would be a desire for the beginner, you can actually take up and start learning and navigating the market through certain investment knowledges in building your minds and understanding what it takes to be a trader in the Crypto markets because the risk of investment is lesser to trading.
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I always tell people that trades look more like gambling whereas holding is investment. And that is because, from an inductive reasoning, trades or using usually done on short term newly launched projects. Don't get me wrong they can also be done long term project, but most traders find it less profiting when trading on long-term projects, but for beginners, its best they focus more on long-term project, until they understand the basics then they can choose to go for trades or not. Though It's quite profiting, there is no doubt about that but it also comes with risks unlike holding were the risks is minimal especially on long-term reputable projects.
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I always tell people that trades look more like gambling whereas holding is investment. And that is because, from an inductive reasoning, trades or using usually done on short term newly launched projects. Don't get me wrong they can also be done long term project, but most traders find it less profiting when trading on long-term projects, but for beginners, its best they focus more on long-term project, until they understand the basics then they can choose to go for trades or not. Though It's quite profiting, there is no doubt about that but it also comes with risks unlike holding were the risks is minimal especially on long-term reputable projects.
Especially for a beginner, or for people who have been in the crypto space for a long time but are just about to enter the world of crypto trading, yes this will be like agmbling, especially if it is based on no knowledge and insight. Moreover, many people are affected by the hype for trading because seeing the many parties who share the profit percentage of these traders, hundreds or even thousands of percent of their profits in a short time in future trading, this can really trigger someone who doesn't understand at all to just join in. .
The problem is that they are professional traders who already understand the technical and fundamental performance of indicator analysis. So they don't do betting carelessly. So for lay people who suddenly want to enter trading without any knowledge? That's really gambling.
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so usually long-term investors will instinctively learn short-term trading as time goes by... because basically the way it works is almost the same, it's just that the time frame used is different.
But not everyone does that, because some people just buy and hold for the long term without learning how short-term trading is done.
They don't even understand how to read the crypto market and how to do technical analysis.
Have a lot of money and get into crypto by buying bitcoin and then holding it until the target price is reached.
Before entering the crypto market, you should first learn how crypto works and how trading science is done to know what the risks are and how to overcome them.
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You don't have to tell them to stop trading because they are newcomers but you can only tell them not to be greedy and other advises because they have to learn and for them to learn with practical they have t trade. Losing is part of trading and that can make.thrm to learn fast. At least it is not bad if they use small amount to trade. One must start from somewhere. And the basic knowledge is needed to trade.
Agree with what you said, that if they experience a loss in trading, it is something that is also the most important lesson, so they will not repeat what they have done, because that action will make an impression and will continue to be remembered.
Providing education about not trading in the early stages is certainly very good, so that they want to learn first so they can understand it properly, but if they force themselves, of course they can do it, but in small portions, first until they can find the formula and then improve it.
Some persons can be motivational at times, even with a series of loss I their trading they can still manage to convince themselves that they are in the right track and their break through is near ;D. Some newbies can be very funny with their actions, and if they did not see any great improvement they will eventually come to a general conclusion that cryptocurrency is a scam, meanwhile they failed to pass through the learning process and apply patient. Crypto is not a get rich quick scheme and if you must make it in the market, then you must exercise patience
What you say is very realistic. In the end, sometimes it takes a series of experiences with losses that occur in trading, to be able to change it at the next opportunity, and they are already on the right path, they just need to make better improvements.
It's not surprising that many beginners feel that what happened is impossible and tend to blame and give arguments that it is a disguise of fraud.
But they don't continue to their best point so they can get maximum results and open up that this is realistic and true.
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What you say is very realistic. In the end, sometimes it takes a series of experiences with losses that occur in trading, to be able to change it at the next opportunity, and they are already on the right path, they just need to make better improvements.
It's not surprising that many beginners feel that what happened is impossible and tend to blame and give arguments that it is a disguise of fraud.
But they don't continue to their best point so they can get maximum results and open up that this is realistic and true.
The two are working together to give the full experience to the trader. And none is bad. And they is why it is good to trade with whY you can afford to lose and not to trade with big amount that when you lose it, you will have the pain. You win or you lose, you still have story to tell. Though in trading the big amount you use the bigger price you gain it as a beginner don't use big amount because you are in the learning process. And that was the mistake I also did that I loss about $300 at once.
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What you say is very realistic. In the end, sometimes it takes a series of experiences with losses that occur in trading, to be able to change it at the next opportunity, and they are already on the right path, they just need to make better improvements.
It's not surprising that many beginners feel that what happened is impossible and tend to blame and give arguments that it is a disguise of fraud.
But they don't continue to their best point so they can get maximum results and open up that this is realistic and true.
Sometimes we are the once who limits our abilities. Our potentials are more than we can ever imagine, and until we take a step further before we'll be able to truly see that we were only being lazy. Newbies could make good search and get better results, but majority of them always feels reluctant and expect themselves to be like a pro from the beginning. It's impossible, and that is why they also have to undergo the learning process and must take it serious for them to fully understand the basics first before advancing to become a pro trader. But the problem with most beginners is that, they want to be like a pro and still expect to be spoon fed by probably the person who Introduced them into the system. If there is something I have learnt so far, is, learning to be independent as a crypto enthusiast is the best way to grow.
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I always tell people that trades look more like gambling whereas holding is investment. And that is because, from an inductive reasoning, trades or using usually done on short term newly launched projects. Don't get me wrong they can also be done long term project, but most traders find it less profiting when trading on long-term projects, but for beginners, its best they focus more on long-term project,
Indirectly trading is a gambling because the both concepts are the same and no matter how people feels they understand them they always get cut up sometimes, though the reason why starters normally like to go into trading is that if you look at trading outside the box you will feel is very easy to make profits if someone should go into it without knowing that in trading it involves the more you look the less you understand sometimes, so actually when you said holding is the only one that should be considered as an investment I agree with you because it has to do with long term investment with lesser risk unlike trading that's like a gambling.
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Indirectly trading is a gambling because the both concepts are the same....
There is a difference between trading and gambling. People do trading primarily for money, while gambling is for entertainment as well as money. Gambling is very easy; you can use your prediction, which may or may not be correct, but in trading, there is a long process that a user follows to make a trade. If you are speaking in terms of earning money, then yes, they are similar, but behind the scenes, there is a difference between the two. So it's not bad what you are doing; the thing is, you can gain knowledge and then enter into whichever you want.
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Since 2021, I have an uncle who is learned but he keeps insisting that bitcoin is not money and cannot be money in any country. He said it is only the government that has the mandate to print money and all monies must have a tangible form before it is digital. He said we are all jokers by following one small boy that created a code and called it money. LOL
So many people like your uncle in the past, even where I live and see them now hate bitcoin even more because of its incredible price.
Actually, such people are people who do not understand how modern technology works and they only follow the system that has been set up by the government.
Or even they are more interested in the Multi Level business by looking for many members with great profits that are promised.
and your uncle may now be too prestigious to admit that bitcoin is an amazing digital currency and is even recognized by the government.
Your uncle feels sorry but won't say it for the sake of self-esteem. LOL.
To be honest with you, I did not think that my uncle is remorseful or whatsoever waiting about with him. I really did try my best again to convince him now that it is almost certain that bitcoin is not a scam and it is not just a creation of one small boy behind the screen of a computer. Now that bitcoin is a universal phenomenon, he needs to understand, even if it doesn't want to join the bandwagon, he should atleast know the truth about bitcoin.
But when I made an effort to confront him once again and which might be the very last time, I saw him met an update on facebook that artificial intelligence is a scam that it is not real. It was then that I concluded with he is allergic to new technologies
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Without enough knowledge people will lose everywhere be it trading platform or anything else. If I can't do the work the right way, I can't expect good feedback from it. Similarly those who are ready to trade must have knowledge to trade. But an investor does not need much knowledge in holdings. A new investor after gaining enough knowledge there is no guarantee of profit but if he holds bitcoins for long time he can get multiple returns of his investment at anytime. But in the case of Bitcoin, the investor must wait. Because Bitcoin is the most worthy for long-term investment.
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Without enough knowledge people will lose everywhere be it trading platform or anything else. If I can't do the work the right way, I can't expect good feedback from it. Similarly those who are ready to trade must have knowledge to trade. But an investor does not need much knowledge in holdings. A new investor after gaining enough knowledge there is no guarantee of profit but if he holds bitcoins for long time he can get multiple returns of his investment at anytime. But in the case of Bitcoin, the investor must wait. Because Bitcoin is the most worthy for long-term investment.
For Holding Bitcoin also needs some important knowledge and sometimes it needs time and experience. If I speak for myself, it took me years to fully become a Bitcoin holder because when I was new to the market there was so much FUD working inside me that made me panic sell.
But slowly due to constant observation of the market and direct experience of bitcoin halving and its effect, now I can continue holding due to the reduction of fear from within. And I think that is difficult for a new trader.
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I always tell people that trades look more like gambling whereas holding is investment. And that is because, from an inductive reasoning, trades or using usually done on short term newly launched projects.
Yes, trading can looks like gambling most especially if one is not prepared and has not spent some time to learn the basic and advanced concepts and skills needed. Therefore, newbies are always advised to first be holders of the top coins in the market and just venture into trading when one is really ready. Now, from time to time, there can be some mavericks who can conquer the market with ease but these people can be the exemptions rather than the rule. In my years of being in the crypto market, I still have to learn to really trade though I am also interested with this venture so I am not closing myself into it. Right now, there are many available opportunities in the market but one must be careful as there are always risks even counting the possible rewards.
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What you say is very realistic. In the end, sometimes it takes a series of experiences with losses that occur in trading, to be able to change it at the next opportunity, and they are already on the right path, they just need to make better improvements.
It's not surprising that many beginners feel that what happened is impossible and tend to blame and give arguments that it is a disguise of fraud.
But they don't continue to their best point so they can get maximum results and open up that this is realistic and true.
The two are working together to give the full experience to the trader. And none is bad. And they is why it is good to trade with whY you can afford to lose and not to trade with big amount that when you lose it, you will have the pain. You win or you lose, you still have story to tell. Though in trading the big amount you use the bigger price you gain it as a beginner don't use big amount because you are in the learning process. And that was the mistake I also did that I loss about $300 at once.
Whatever is done in trading, there will definitely be luck and loss. It just depends on everything to reveal whatever has happened. Some may be normal because they understand the consequences of the trade, but there are also some who, as you said, will feel pain because of the loss. .
I really agree with what you said, that, as a beginner, you are very accustomed to starting with small transactions and gradually increasing them when you understand how, because this will avoid losses that might be as large as you have experienced. I am sorry for what happened to you.
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Right now, there are many available opportunities in the market but one must be careful as there are always risks even counting the possible rewards.
Yeah, I agree with you mate. In as much as trading is popularly know for its huge profit returns if you get the right project early, we still need to be careful, because there are times where your knowledge or research would fail you, and if you made lot of investment in that project, then you'll suffer loses that can affect a bit of your finance. Before one should start trading, they should have acquired enough knowledge to know how chart, movements trend... works else they are just gambling blindly. In the other hand long term investment can be very relaxing and makes the holder feel comfortable irrespective of the status as a beginner or pro investor.
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For Holding Bitcoin also needs some important knowledge and sometimes it needs time and experience. If I speak for myself, it took me years to fully become a Bitcoin holder because when I was new to the market there was so much FUD working inside me that made me panic sell.
But slowly due to constant observation of the market and direct experience of bitcoin halving and its effect, now I can continue holding due to the reduction of fear from within. And I think that is difficult for a new trader.
Well I think each and everyone have there own mindset about holding in regards to whether they need to be very knowledgeable enough before they would start there investment and also I will not say you are wrong for waiting that long in other to acquire enough knowledge before going into Bitcoin investment.
However the little I understand about my Bitcoin investment so far is that so long as it has to do with only Bitcoin holding there is no much knowledge required because is not trading that always requires so much knowledge, however the only people who always consider being so knowledgeable enough before investing on Bitcoin are mostly those who are scared of Bitcoin investment because there is no way someone will lose there investment if they are holding.
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Trading is as sweet as when we know what we are doing and how to trade, but when we lack the skills on this as required, we may not arrived at the desired expectation concerning the trading we are interested in doing, also, if we are experience in trading, then we should trade with caution because the market need time and enough patience in other to be able to predict on which direction its going.
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Obviously trading is riskier than investing due to the various knowledges to minimize looses required.
At a time, I was in support that newbies should avoid trading but invests.
At the current moment, I have thought otherwise that if anyone can Invest, then also, anyone can trade.
So for a beginner to start up in the crypto market with trades is not a bad one. The individual only need to learn what it takes to win. Experience is only a bonus to manoeuvre perhaps... we can explore with afresh acquired knowledges as long it is in line with the market demands.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
I was one of them when I was just starting out, I thought it was easy like what all the traders are bragging so I have to agree on what you posted and advice as I've been there.
The huge losses made me realize trading is not for me so I focus more on holding and it's one of the best decision I did, trading is not for everyone its too time consuming while holding Bitcoin, you just need to be patient and it will eventually yield you profit.
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The huge losses made me realize trading is not for me so I focus more on holding and it's one of the best decision I did, trading is not for everyone its too time consuming while holding Bitcoin, you just need to be patient and it will eventually yield you profit.
a lot of people are obsessed with giving unsolicited advice without taking into consideration the kind of character and personality a person has
i am not saying we should easily give up but sometimes things won't really work for us and maybe you should realize that sooner and get a move on
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At the current moment, I have thought otherwise that if anyone can Invest, then also, anyone can trade.
I don't agree, investing is as 'easy' as buying BTC and just storing it in your self custodial wallet for the long run. However, trading is a whole lot more than that and very risky too for many reasons. There are so many newbies who started with trading, and they are no longer in the network because of the large amount of money they lost to trading, because they didn't understand the market and its fluctuations, or otherwise volatility.
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I don't agree, investing is as 'easy' as buying BTC and just storing it in your self custodial wallet for the long run.
What is your reason? I think it is quite easy, we even don't need to make a deep research because Bitcoin is trustable. If we want to invest in Bitcoin, we only need to know the price cycle. Learning the price history and 4 years cycle are the way to know the best time for selling it. I think it is much easy than investing in any other coins.
However, trading is a whole lot more than that and very risky too for many reasons.
Trading is risky if we do it without proper knowledge and no skills. But if we have good knowledge, trading won't be a very risky thing. As long as we use safe money, it is no problem to trade crypto coins. But make sure to choose reliable coins, don't trade random coins which easily freefall.
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It will be out of foolishness for any newbie to think of trading, just because Mr. A is making profits in trading, let them join him to do the same, since he trades. Forgetting that trading requires a lot of expertise to be perfect in it. Someone can't join in it without learning how control their emotions, and their greed approach.
I see newbies that involve in trading as people that don't know what are actually doing. Someone can see a simple way of earning in Bitcoin by hodling for long term and choose to take a risk that they can't come out successfully.
Trading is supposed to be done with one level of expertise in it. Not because of someone is earning from trading, they should join him or her without knowing how it took the person to be perfect in trading.
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At the current moment, I have thought otherwise that if anyone can Invest, then also, anyone can trade.
I don't agree, investing is as 'easy' as buying BTC and just storing it in your self custodial wallet for the long run. However, trading is a whole lot more than that and very risky too for many reasons. There are so many newbies who started with trading, and they are no longer in the network because of the large amount of money they lost to trading, because they didn't understand the market and its fluctuations, or otherwise volatility.
Formally I admitted to it that investing is easier for beginners cope with than trading because trading requires some technical knowledges, more money and ability of emotions to withstand lost because all these are essentially surrounded to make a good trader but for Investor, you can just buy the fraction of Bitcoin to your affordability and keep holding with just some basic knowledge.
But all these does not mean beginners who have desires to begin their Bitcoin quest of making profits with trading.
Ones dedication can make a good impact to excel as they desires so with this I think beginners can also be good to trade on Bitcoin however, it might take a whole lot of time in learning how the trading field is all about to be able to stand at the safe side.
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At the current moment, I have thought otherwise that if anyone can Invest, then also, anyone can trade.
So for a beginner to start up in the crypto market with trades is not a bad one.
Trading is for all but not everyone will be a good trader especially newbies because they only have the basic knowledge and trading needs more than that because it is very complex and riskier. Investing can be easy for those newbies who are used in a good saving practice because they know the amount of money they can use to invest without a problem and they will be frequently buying bitcoin. A good financial management will do you more good when investing. Only short term investors might not be happy with their investment.
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Trading is for all but not everyone will be a good trader especially newbies because they only have the basic knowledge and trading needs more than that because it is very complex and riskier. Investing can be easy for those newbies who are used in a good saving practice because they know the amount of money they can use to invest without a problem and they will be frequently buying bitcoin. A good financial management will do you more good when investing. Only short term investors might not be happy with their investment.
Trading can't adopt by all because need more knowledge exactly with beginner less education or information about bitcoin and altcoin want to trade, but difference with holding is allow for all trader as beginner or not just buy on lower price and forget it until several years later waiting price increasing significant. I think with trading have specific only for trader have more knowledge and understand well how market condition around several days later.
For holding is not allowed much knowledge because they are trading for long term after investing with lower price and waiting price recovery for one or two years later.
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At the current moment, I have thought otherwise that if anyone can Invest, then also, anyone can trade.
I don't agree, investing is as 'easy' as buying BTC and just storing it in your self custodial wallet for the long run. However, trading is a whole lot more than that and very risky too for many reasons. There are so many newbies who started with trading, and they are no longer in the network because of the large amount of money they lost to trading, because they didn't understand the market and its fluctuations, or otherwise volatility.
Majority of newbies who started with trading, are likely to have bad experience and some of them conclude crypto is scam, meanwhile they where the ones who had the wrong approach. The reason holding is recommended to newbies at first than trading is because, while holding they'll definitely get a clear understanding of how volatile or risky the crypto market is, so they don't rush into making careless decisions that will cause them some fortune. Trading requires a level of research and experience to be able to make correct analysis that will aid you profit making, newbies aren't that exposed so they should hold and not trade.
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At the current moment, I have thought otherwise that if anyone can Invest, then also, anyone can trade.
I don't agree, investing is as 'easy' as buying BTC and just storing it in your self custodial wallet for the long run. However, trading is a whole lot more than that and very risky too for many reasons. There are so many newbies who started with trading, and they are no longer in the network because of the large amount of money they lost to trading, because they didn't understand the market and its fluctuations, or otherwise volatility.
Majority of newbies who started with trading, are likely to have bad experience and some of them conclude crypto is scam, meanwhile they where the ones who had the wrong approach. The reason holding is recommended to newbies at first than trading is because, while holding they'll definitely get a clear understanding of how volatile or risky the crypto market is, so they don't rush into making careless decisions that will cause them some fortune. Trading requires a level of research and experience to be able to make correct analysis that will aid you profit making, newbies aren't that exposed so they should hold and not trade.
If they have started trading and experienced losses, you can be sure that they will think that crypto does not give them anything, and it could be like you said by accusing crypto of being a scam.
But almost all who start in crypto if they don't want to learn first will be able to despair because they can't accept something which is thought will only contribute to it, even though it is not that easy to get it.
If they want to continue learning, then mistakes are something that must be addressed well so that they will not do things to repeat.
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Right now, there are many available opportunities in the market but one must be careful as there are always risks even counting the possible rewards.
Yeah, I agree with you mate. In as much as trading is popularly know for its huge profit returns if you get the right project early, we still need to be careful, because there are times where your knowledge or research would fail you, and if you made lot of investment in that project, then you'll suffer loses that can affect a bit of your finance. Before one should start trading, they should have acquired enough knowledge to know how chart, movements trend... works else they are just gambling blindly. In the other hand long term investment can be very relaxing and makes the holder feel comfortable irrespective of the status as a beginner or pro investor.
Without a sufficient amount of knowledge and experiences it would be difficult to make profits from trading and at a beginner stage it's totally impossible infact you will only and nothing else. At this stage I am recomending you only to focus on long term investment which not only gives you profits but also secure you from market complication and short term fluctuations. So be careful at this stage and focus on your knowledge gain and practicing on identify patterns and sequences.
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Yes, it is better to stay away from trading as much as possible for newbies, because there are already high risks in trading, even those who are trading experts often end up with big losses, and if a newbie trades without knowing anything, chances of losing are high. So a newbie should always stay away from trading and focus on holding in new position, and understand everything by trading in demo account in holding position. And after learning trading completely, you should proceed towards trading.
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Yes, it is better to stay away from trading as much as possible for newbies, because there are already high risks in trading, even those who are trading experts often end up with big losses, and if a newbie trades without knowing anything, chances of losing are high. So a newbie should always stay away from trading and focus on holding in new position, and understand everything by trading in demo account in holding position. And after learning trading completely, you should proceed towards trading.
Newbies can trade because some of the newbies are just new to the forum and not to trading.
But if it is a general newbies to cryptocurrency space, buying Bitcoin to hold will be better for them before learning about Bitcoin and crypto trading generally.
Learning is actually the first step for both trading and holding, but you can hold bitcoin before you start your journey because you as a newbie is not supposed to start trading without learning about it first.
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Yes, it is better to stay away from trading as much as possible for newbies, because there are already high risks in trading, even those who are trading experts often end up with big losses, and if a newbie trades without knowing anything, chances of losing are high. So a newbie should always stay away from trading and focus on holding in new position, and understand everything by trading in demo account in holding position. And after learning trading completely, you should proceed towards trading.
I agree with you trading can be very risky even for experts. Newcomers needs to be extra careful. It is good for beginners to avoid trading in early stage and they should focus on learning. Practicing with demo account can help to build knowledge and our confidence too. In this way newbies can avoid big losses and get good foundation before starting real trading.
This approach may look slow but it is good way to reduce risks and set yourself up for success. They should take time to understand how market works and should make solid plan. And if they will do this so it will help them to avoid from big losses and it will make them able to make good decisions.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
Normally if as a newbie, you don't understand how to trade then you should avoid it at all cost. Trading requires skills, experience and risk management. If you have no idea on any of these you will miss the most important point about trading which is profit making. It will create a bad trading experience for you. When it comes to BTC you should try your best to hold for a long term as a newbie. Trading the wave is profitable in the short term but then if you don't know how to ride the wave, the wave ends up riding your money.
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Yes, it is better to stay away from trading as much as possible for newbies, because there are already high risks in trading, even those who are trading experts often end up with big losses, and if a newbie trades without knowing anything, chances of losing are high. So a newbie should always stay away from trading and focus on holding in new position, and understand everything by trading in demo account in holding position. And after learning trading completely, you should proceed towards trading.
Newbies can trade because some of the newbies are just new to the forum and not to trading.
But if it is a general newbies to cryptocurrency space, buying Bitcoin to hold will be better for them before learning about Bitcoin and crypto trading generally.
Learning is actually the first step for both trading and holding, but you can hold bitcoin before you start your journey because you as a newbie is not supposed to start trading without learning about it first.
Actually, beginners can trade, as long as it is adjusted to their abilities and does not seem greedy, but starts with a small, nominal, so that when they experience a loss they are not surprised but instead used as a guide for learning so as not to repeat it again., So there are always good and bad sides if beginners trade, but if they don't start, they won't be able to trade again.
Or indeed, studying first is also okay and focus on long-term investment first so that they get knowledge before jumping into trading.
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Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
Trading have been promising to be profitable within a short term if you’re knowledgeable in it. Without that knowledge, you’ll only lose your money the more and eventually lose everything and leave trading for life. Anything you see people are making money from don’t just come that easy, some sacrifices have to be made and that’s why you need to learn and understand, because it’s the sacrifice required from you.
Newbies to trading should be hesitant and seek the knowledge before venturing into it. Having he knowledge will help reduce risk associated with losing more money at trading and will give you a guide on how to take the trading game to the next level.
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Yes, it is better to stay away from trading as much as possible for newbies, because there are already high risks in trading, even those who are trading experts often end up with big losses, and if a newbie trades without knowing anything, chances of losing are high. So a newbie should always stay away from trading and focus on holding in new position, and understand everything by trading in demo account in holding position. And after learning trading completely, you should proceed towards trading.
That might be a good advise, but I guess newbies might have at least a experience, or got the chance to trade and see how it goes for them. Although I would agree that it is very hard to be a trader in the beginning. But if you really to make it a career then, they will have to go to a lot of growing pains in order to succeed.
And then there's this other part, those who failed and then just decided to be a long term holder. But it's not that easy as well, you will have to be mentally prepared, to buy and not be tempted to sell. Maybe our goals will be like to hold for at least 6 months and with that continuous buying thru DCA and then see how it goes for you.
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Yes, it is better to stay away from trading as much as possible for newbies, because there are already high risks in trading, even those who are trading experts often end up with big losses, and if a newbie trades without knowing anything, chances of losing are high. So a newbie should always stay away from trading and focus on holding in new position, and understand everything by trading in demo account in holding position. And after learning trading completely, you should proceed towards trading.
A trader can trade if he wants to by acquiring the knowledge of cryptocurrency trading. Although trading is risky, there is also an opportunity to earn cash from it. It is definitely a good idea if one is interested in trading. But trading without adequate knowledge increases the chances of losing. From that point of view, holding is better than trading. Especially if one holds Bitcoin, regardless of the price, he can profit relatively risk-free in the long term. Because holding does not require a trader to be very skilled. It will be profitable for him to start holding by acquiring a basic knowledge to hold bitcoins.
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Yes, it is better to stay away from trading as much as possible for newbies, because there are already high risks in trading, even those who are trading experts often end up with big losses, and if a newbie trades without knowing anything, chances of losing are high. So a newbie should always stay away from trading and focus on holding in new position, and understand everything by trading in demo account in holding position. And after learning trading completely, you should proceed towards trading.
A trader can trade if he wants to by acquiring the knowledge of cryptocurrency trading. Although trading is risky, there is also an opportunity to earn cash from it. It is definitely a good idea if one is interested in trading. But trading without adequate knowledge increases the chances of losing. From that point of view, holding is better than trading. Especially if one holds Bitcoin, regardless of the price, he can profit relatively risk-free in the long term. Because holding does not require a trader to be very skilled. It will be profitable for him to start holding by acquiring a basic knowledge to hold bitcoins.
It is indeed not easy to trade because very high risks can occur if we do not have any knowledge at all of trading, but not doing anything is also not good, so there must be courage to be able to trade. Study and analyze each movement by starting with a small value and while trying to continue to hone it so that when you know it, you can start with a slightly larger one. You always have to be gradual until you really know trading.
There is nothing wrong with holding, by continuing to add to the DCA scheme so that its value continues to grow so that when the increase period, it will have more value. All is returned to the individual to determine.
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It is indeed not easy to trade because very high risks can occur if we do not have any knowledge at all of trading, but not doing anything is also not good, so there must be courage to be able to trade. Study and analyze each movement by starting with a small value and while trying to continue to hone it so that when you know it, you can start with a slightly larger one. You always have to be gradual until you really know trading.
I totally agree, trading is not easy. Trading is difficult and complex. We do not only rely on having money for trading, but also the ability to manage and manage that money in trading. so that it can really be useful and add a lot of profits.
Remember, trading is not only based on luck, because this is not gambling. There are many right choices for trading, but stay alert, and as a beginner make sure to start from the spot market first. Don't be tempted by the results of trading in the Future market. Because the risk will be much greater.
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For newcomers to the cryptocurrency space, I strongly advise focusing on holding Bitcoin rather than trading. Without sufficient experience and a substantial amount of Bitcoin or other cryptocurrencies, trading can be risky. Newbies should prioritize accumulating Bitcoin and gaining knowledge about trading before attempting to trade. This approach will help them develop the necessary expertise and build a sizable portfolio, reducing the risk of losses.
Once they have gained sufficient experience and have a substantial amount of Bitcoin, they can consider trading. However, it's essential to remember that trading always carries risks, and it's crucial to be knowledgeable and prepared.
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It is indeed not easy to trade because very high risks can occur if we do not have any knowledge at all of trading, but not doing anything is also not good, so there must be courage to be able to trade. Study and analyze each movement by starting with a small value and while trying to continue to hone it so that when you know it, you can start with a slightly larger one. You always have to be gradual until you really know trading.
I totally agree, trading is not easy. Trading is difficult and complex. We do not only rely on having money for trading, but also the ability to manage and manage that money in trading. so that it can really be useful and add a lot of profits.
Remember, trading is not only based on luck, because this is not gambling. There are many right choices for trading, but stay alert, and as a beginner make sure to start from the spot market first. Don't be tempted by the results of trading in the Future market. Because the risk will be much greater.
It's better for a newbie not to think of going into anu kind of trading only if he is buying because he has no idea of the market and will definitely make wrong decisions that willput him at loss. I call such people that are trading without the proper knowledge as gamblers because only luck can bring profit for them.
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It's better for a newbie not to think of going into anu kind of trading only if he is buying because he has no idea of the market and will definitely make wrong decisions that willput him at loss. I call such people that are trading without the proper knowledge as gamblers because only luck can bring profit for them.
No problem to think about trading but newbies don't try it immediately. It requires good knowledge before newbies start trading. Even if it looks like very easy to do, it is not easy to earn good amount of money from trading. Especially if we have limited funds/capital. Sure, newbies who trade with no proper knowledge, they must end up with severe losses. The best way is to focus on learning first if we are still in the newbie/beginner level.
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No problem to think about trading but newbies don't try it immediately. It requires good knowledge before newbies start trading. Even if it looks like very easy to do, it is not easy to earn good amount of money from trading. Especially if we have limited funds/capital. Sure, newbies who trade with no proper knowledge, they must end up with severe losses. The best way is to focus on learning first if we are still in the newbie/beginner level.
you are not wrong at all looking at it from that sense. but if you also consider it from a totally different perspective, there are no professional and experienced traders today who didn't make certain mistakes along their trading journey, regardless of how much knowledge they may have acquired before they started trading.
In a general sense, people need to mistakes in order to learn certain lessons, and it is through those mistakes that they get to learn their lessons, so as long as newbies can manage to acquire jus the basic knowledges about trading, then i believe they are good to go, but all they need to prioritize would be to try as much as possible to mitigate and minimize the risk of losses.
and as long as they continue to trade and consistently make mistakes and learn, they'll definitely gather all the experience they need to level up.
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For newcomers to the cryptocurrency space, I strongly advise focusing on holding Bitcoin rather than trading. Without sufficient experience and a substantial amount of Bitcoin or other cryptocurrencies, trading can be risky. Newbies should prioritize accumulating Bitcoin and gaining knowledge about trading before attempting to trade. This approach will help them develop the necessary expertise and build a sizable portfolio, reducing the risk of losses.
Holding Bitcoin is quite safe for any level of investor. It is true that holding Bitcoin is recommended for newbies. However, newbies need to have basic knowledge about Bitcoin investment as well. Newbies must understand when they should hold and when they need to sell the Bitcoin. At least they need to understand the cycle of bullish-bearish.
Yep, trading is a bit complicated. Newbies must ensure they have proper knowledge and experience firstly before they try trading.
Once they have gained sufficient experience and have a substantial amount of Bitcoin, they can consider trading. However, it's essential to remember that trading always carries risks, and it's crucial to be knowledgeable and prepared.
Actually both investment and trading have the risks. But trading looks riskier because we set a short term target. Since people prefer choosing more volatile coins for trading, this makes trading be more risker. But if newbies trade Bitcoin or other top altcoins, I think it won't be very risky.
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It's better for a newbie not to think of going into anu kind of trading only if he is buying because he has no idea of the market and will definitely make wrong decisions that willput him at loss. I call such people that are trading without the proper knowledge as gamblers because only luck can bring profit for them.
Just like I said in my previous post, trading comes with lots of complications and can involve lots of complexity and not everyone in the space really understands the risks involved before entering, which results to losses. Trading should be for those who really understand the risks involved in trading, that have the self control to take calculated decisions without greed or fear.
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It's better for a newbie not to think of going into anu kind of trading only if he is buying because he has no idea of the market and will definitely make wrong decisions that willput him at loss. I call such people that are trading without the proper knowledge as gamblers because only luck can bring profit for them.
Just like I said in my previous post, trading comes with lots of complications and can involve lots of complexity and not everyone in the space really understands the risks involved before entering, which results to losses. Trading should be for those who really understand the risks involved in trading, that have the self control to take calculated decisions without greed or fear.
A strategy is especially important for a newbie crypto trader because it gives the trader a framework on which to base their trades. This is very important as it helps the trader to avoid unnecessary decisions in an unpredictable market. Trading is a powerful strategy to generate profits for dependable and shot time. Also there is no one size fits all trading strategy for every crypto trader. Each trader must determine what works best for them. Traders who note the results of their trades will find it easier to identify which strategies are successful and should be adopted. Once one can become a smart trader then he can make daily profit from crypto.
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Just like I said in my previous post, trading comes with lots of complications and can involve lots of complexity and not everyone in the space really understands the risks involved before entering, which results to losses. Trading should be for those who really understand the risks involved in trading, that have the self control to take calculated decisions without greed or fear.
And more ways are done such as doing technical and fundamental analysis and of course that knowledge cannot be mastered instantly.
Basic analysis is necessary to be able to do it, because without basic knowledge it is impossible to become a good trader in crypto.
Trading does have many complications, related to knowledge and also trading psychology, if trading psychology is not mastered then it will be very complicated to make a decision and more risks will occur. Greed and fear continue to arise if they do not master technical analysis and they will only make decisions based on feelings.
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It's better for a newbie not to think of going into anu kind of trading only if he is buying because he has no idea of the market and will definitely make wrong decisions that willput him at loss. I call such people that are trading without the proper knowledge as gamblers because only luck can bring profit for them.
Just like I said in my previous post, trading comes with lots of complications and can involve lots of complexity and not everyone in the space really understands the risks involved before entering, which results to losses. Trading should be for those who really understand the risks involved in trading, that have the self control to take calculated decisions without greed or fear.
A strategy is especially important for a newbie crypto trader because it gives the trader a framework on which to base their trades. This is very important as it helps the trader to avoid unnecessary decisions in an unpredictable market. Trading is a powerful strategy to generate profits for dependable and shot time. Also there is no one size fits all trading strategy for every crypto trader. Each trader must determine what works best for them. Traders who note the results of their trades will find it easier to identify which strategies are successful and should be adopted. Once one can become a smart trader then he can make daily profit from crypto.
I think that in this comment, you could explain for difference between trading and holding. So I am also agree with your comment. We know that trading is one of the best profitable source in crypto currency market. But we also know that trading is also very risky for any investors. Because if we can not understand in cryptocurrency market or trading system, then it will be very difficult for us. So we should more focus on investment. So if we select bitcoin for invest, it will be very prefer for us. Because we know that bitcoin price will increase gradually in crypto currency market.
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A strategy is especially important for a newbie crypto trader because it gives the trader a framework on which to base their trades. This is very important as it helps the trader to avoid unnecessary decisions in an unpredictable market. Trading is a powerful strategy to generate profits for dependable and shot time. Also there is no one size fits all trading strategy for every crypto trader. Each trader must determine what works best for them. Traders who note the results of their trades will find it easier to identify which strategies are successful and should be adopted. Once one can become a smart trader then he can make daily profit from crypto.
An effective strategy is just as important to newbie trader as it is to a professional trader, in order to succeed in trading, one needs an effective strategy that suited and aligns well with their personal goals, identify their risk tolerance level and also learn how manage and calculate risks before taking them. This is something that every trader needs, newbie or pro, in order to be able to effectively navigate the market, mitigate the risks of losses and stay in profits.
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This is not a decision to make the newbies scare away or got discouraged from trading, instead when they learn, they are going to know how to trade and avoid much risk that may lead them to lose their coins, but when we think we have gotten to a particular stage whereby we can afford to lose and take heart on whatsoever may come our way, then there is nothing bad in such regards.
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This is not a decision to make the newbies scare away or got discouraged from trading, instead when they learn, they are going to know how to trade and avoid much risk that may lead them to lose their coins, but when we think we have gotten to a particular stage whereby we can afford to lose and take heart on whatsoever may come our way, then there is nothing bad in such regards.
This can be a science and also sharing information that is quite valuable for beginners actually, it's just that how newbies respond to this will depend on each individual. Because there are newbies who like to learn and try from the beginning, so they equip themselves with knowledge that is at least good enough for the basics, then develop it over time. but still there are many newbies who don't even want to read the information and are only equipped with money to multiply. this is quite difficult to make them aware of the condition. But if you don't want to be reminded and given to understand, then just let them hold the risks.
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It's better for a newbie not to think of going into anu kind of trading only if he is buying because he has no idea of the market and will definitely make wrong decisions that willput him at loss. I call such people that are trading without the proper knowledge as gamblers because only luck can bring profit for them.
Just like I said in my previous post, trading comes with lots of complications and can involve lots of complexity and not everyone in the space really understands the risks involved before entering, which results to losses. Trading should be for those who really understand the risks involved in trading, that have the self control to take calculated decisions without greed or fear.
Lots of complications, lots of patience, lots of discipline, lots of self-control, lots of risk management, lots, and lots and lots more.
Overall, trading is very risky especially day trading, and it's only for those who really are eager to learn about trading, and eager to spend most of their time learning how trading works. If you're a beginner, you have the opportunity to try trading and from there, you will decide for yourself if you want to make millions like 1% of traders are doing or lose money like what more than 90% of traders are experiencing.
Trading isn't easy. I've lost money, LOTS of money on it already, but here I am still learning how to trade, and will not give up as long as I have capital to use. :D
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This is not a decision to make the newbies scare away or got discouraged from trading, instead when they learn, they are going to know how to trade and avoid much risk that may lead them to lose their coins, but when we think we have gotten to a particular stage whereby we can afford to lose and take heart on whatsoever may come our way, then there is nothing bad in such regards.
Of course, to be more careful as a beginner not to trade directly is also not good, especially as you said, that makes beginners afraid. There are those who usually do learning in theory and practice directly and both are equally good, just adjusted to the abilities they have. In my opinion, studying theory and practice directly is very good, but practice must be with a small value accumulation first, it is also very good to be able to practice directly.
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snip
Yes, this is a good advice if the newbie know nothing about trading, but overlooks the fact that there are newbies that have been trading in markets such as the stock and forex. For these, crypto ttrding would be a piece of cake.
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Of course, to be more careful as a beginner not to trade directly is also not good, especially as you said, that makes beginners afraid. There are those who usually do learning in theory and practice directly and both are equally good, just adjusted to the abilities they have. In my opinion, studying theory and practice directly is very good, but practice must be with a small value accumulation first, it is also very good to be able to practice directly.
Some people believe that practicing trading with a demo account isn’t very educational as using a real account with real funds, but I really do not find this to be true, as I believe that it’ll be more appropriate for newbies to first attempt using this method, because using a real account could still result to losses even when the trader uses a small amount of money, especially when the trader lacks self control and discipline, he can easily deposit another sum into his account after blowing up the little money he initially deposited earlier, and this can go on and on until his bank account is completely drained, we all know how this actually works.
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As a newbie, holding Bitcoin is a very good idea while learning and developing yourself on how the trading market works, learning some very basics of how the crypto market works. Trading is filled with opportunities to profit and loss in all. Trading requires a great deal of learning, beginning from the trading terminologies, to self discipline etc.
As newbie, starting trading with small amount of capital will put you on a safe side while learning how to navigate the market in a real trading account. If you're a fast learning and principled trader, you could grow your account, otherwise when there is losses, you know it's an amount that won't affect your financial status as a beginner.
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Lots of complications, lots of patience, lots of discipline, lots of self-control, lots of risk management, lots, and lots and lots more.
Overall, trading is very risky especially day trading, and it's only for those who really are eager to learn about trading, and eager to spend most of their time learning how trading works. If you're a beginner, you have the opportunity to try trading and from there, you will decide for yourself if you want to make millions like 1% of traders are doing or lose money like what more than 90% of traders are experiencing.
Indeed, because if you don't act like that, then it will all be in vain and will not work. Even by doing all that, it will not always guarantee continuous profits, but at least you can manage the risk better.
And all of this, to be honest, is certainly tiring. It's just that for some people, trading is indeed that challenging and they like it because they are used to it and it is a way to increase their income. It's just that, once again, this is not an easy thing.
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A beginner in trading should learn to keep things simple. Start by simply buying a few coin. Hodl for a while understand why the prices keeps fluctuating then when the confidence level is high enough they can invest with huge capital. One can only learn crypto trading by experience and not by observation.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
Those who are new to Bitcoin should first understand some of the fundamentals of Bitcoin before entering the Bitcoin market. Trading is not an easy task especially for the newbies but they need to know many details of trading first and know well how to trade and when to enter the market and when to sell and then enter the market. But if someone wants to hold it, he can do it, whether it is new or old, he can hold bitcoin for a long time if he wants.
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Re: As a beginner, stay away from trading and focus more on holding Bitcoin
If you're a newbie, focusing more on holding Bitcoin would be a better option, but saying to the newbies to stay away from trading isn't a good thing.
Newbies have the right to try trading, and based on their experience, they will decide whether they will trade or not. Yes, we know that newbies have higher chances of losing money in trading, but that's the price of the experience that they will get. I believe that experience matters in trading, and if you want to gain those, you need to lose at least some money. At the end of the day, those experience will help you become a better trader if you will pursue being an expert on it.
Still, I will always say to a newbie to try both of them. Try both holding Bitcoin and do trading. From there, I will let them decide whichever works for them. :)
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A beginner in trading should learn to keep things simple. Start by simply buying a few coin. Hodl for a while understand why the prices keeps fluctuating then when the confidence level is high enough they can invest with huge capital. One can only learn crypto trading by experience and not by observation.
Part of your post is a bit confusing, I mean the part you’re talking about HODLing and Trading on the same concept is rather confusing because traders and HODLers are both totally different people so is your post about traders or are talking about HODLers?
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A beginner in trading should learn to keep things simple. Start by simply buying a few coin. Hodl for a while understand why the prices keeps fluctuating then when the confidence level is high enough they can invest with huge capital. One can only learn crypto trading by experience and not by observation.
Part of your post is a bit confusing, I mean the part you’re talking about HODLing and Trading on the same concept is rather confusing because traders and HODLers are both totally different people so is your post about traders or are talking about HODLers?
Probably he meant long term trading? Like hold for months and sell for profits but it's not the most profitable way of doing it. HODL is the actual strategy to maximize profits but in theory a day trader has the capability of making more but as I said in theory which is not practical that is why we need to choose the approach that is less risky as well as equally profitable.
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Probably he meant long term trading? Like hold for months and sell for profits but it's not the most profitable way of doing it. HODL is the actual strategy to maximize profits but in theory a day trader has the capability of making more but as I said in theory which is not practical that is why we need to choose the approach that is less risky as well as equally profitable.
Well I believe it’s all about perspective and the individual’s personal financial goals, whether to dwell on theory or practicality and actual reality, because in reality, we all know that it’s much safer to stay away from short term trading, due to the potential risks involved, no one can for sure tell the future of any asset, not even Bitcoin in the short term, so the best approach to mitigate losses as much as possible would be to focus on the long term potentials of an asset that has proven to be trustworthy, with long term stability and that’s Bitcoin, every other form of investment in the crypto market carries maximum risk.
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Probably he meant long term trading? Like hold for months and sell for profits but it's not the most profitable way of doing it. HODL is the actual strategy to maximize profits but in theory a day trader has the capability of making more but as I said in theory which is not practical that is why we need to choose the approach that is less risky as well as equally profitable.
Long term trading? That will also mean that you need to store your bitcoin an exchange for very long time which is too risky. Too many exchanges transition from being reputed to shitty one. For beginners to reduce those mistakes and risks HODL is the most recommended way because even you are already know how to trade, of have an experience about it, it does not always mean profit.
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Re: As a beginner, stay away from trading and focus more on holding Bitcoin
If you're a newbie, focusing more on holding Bitcoin would be a better option, but saying to the newbies to stay away from trading isn't a good thing.
Holding Bitcoin is the best way to do for newbies to start their journey in the crypto space. At least, when they put their money when they are still really beginners, they are already in the right place, not to follow FOMO or just a victim of hype, but Bitcoin is a crypto that is worth it and safer compared to investing in altcoins.
And yes, even though trading is difficult, it doesn't mean it can't be done, So, it's much better to hold at first, but it doesn't mean closing the possibility of trading, as long as they really want to learn from the beginning how to work. not just because they want to make money and just follow suit, but really go through it with their own journey and security with a good understanding of crypto and trading especially.
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Re: As a beginner, stay away from trading and focus more on holding Bitcoin
If you're a newbie, focusing more on holding Bitcoin would be a better option, but saying to the newbies to stay away from trading isn't a good thing.
Holding Bitcoin is the best way to do for newbies to start their journey in the crypto space. At least, when they put their money when they are still really beginners, they are already in the right place, not to follow FOMO or just a victim of hype, but Bitcoin is a crypto that is worth it and safer compared to investing in altcoins.
And yes, even though trading is difficult, it doesn't mean it can't be done, So, it's much better to hold at first, but it doesn't mean closing the possibility of trading, as long as they really want to learn from the beginning how to work. not just because they want to make money and just follow suit, but really go through it with their own journey and security with a good understanding of crypto and trading especially.
I think what you said is something very true and appropriate to do, not only for beginners, if they want to feel safe and be able to invest in crypto and the choice is in bitcoin, because this is the safest investment to being before moving on to the next stage.
Trading is indeed very risky for anyone who does not have the ability to do it, but that doesn't mean you shouldn't do it. In my opinion, apart from having to be smart at analysis, the most important thing is to have the courage to jump in straight away, but by doing it in installments, from small amounts and gradually, until you are able to analyze well.
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Probably he meant long term trading? Like hold for months and sell for profits but it's not the most profitable way of doing it. HODL is the actual strategy to maximize profits but in theory a day trader has the capability of making more but as I said in theory which is not practical that is why we need to choose the approach that is less risky as well as equally profitable.
Long term trading? That will also mean that you need to store your bitcoin an exchange for very long time which is too risky. Too many exchanges transition from being reputed to shitty one. For beginners to reduce those mistakes and risks HODL is the most recommended way because even you are already know how to trade, of have an experience about it, it does not always mean profit.
They doesn't have to keep them in the exchange but people who follow DCA for small amounts like 50 dollars a month are often forced to do that despite knowing it's risk because withdrawing $50 BTC everytime will take away $10 to 20 as fees so they may have to save some funds and move as big chunk to reduce the fee burden.
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Probably he meant long term trading? Like hold for months and sell for profits but it's not the most profitable way of doing it. HODL is the actual strategy to maximize profits but in theory a day trader has the capability of making more but as I said in theory which is not practical that is why we need to choose the approach that is less risky as well as equally profitable.
Long term trading? That will also mean that you need to store your bitcoin an exchange for very long time which is too risky. Too many exchanges transition from being reputed to shitty one. For beginners to reduce those mistakes and risks HODL is the most recommended way because even you are already know how to trade, of have an experience about it, it does not always mean profit.
They doesn't have to keep them in the exchange but people who follow DCA for small amounts like 50 dollars a month are often forced to do that despite knowing it's risk because withdrawing $50 BTC everytime will take away $10 to 20 as fees so they may have to save some funds and move as big chunk to reduce the fee burden.
I think at this time the exchange is good enough and there is insurance that can be obtained from the loss that happens, as well as because local exchanges also have a lot. So continuing to buy in a DCA way is very good, but I agree not to take in a small amount or that we, have not wanted, because the costs incurred are quite large, as you said, and ultimately unfavorable.
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They doesn't have to keep them in the exchange but people who follow DCA for small amounts like 50 dollars a month are often forced to do that despite knowing it's risk because withdrawing $50 BTC everytime will take away $10 to 20 as fees so they may have to save some funds and move as big chunk to reduce the fee burden.
I totally get what you’re saying. DCAing with a small amount can indeed be pretty tough, particularly when it involves high transaction fees. One may wish to regularly invest but when they think about the transaction fees, they may either feel discouraged or be left with no other choice but to consider using a local or centralized exchange for their DCA.
But the most important thing if one must consider using an exchange is making sure that the exchange chosen is somewhat safe and a very notably one.
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They doesn't have to keep them in the exchange but people who follow DCA for small amounts like 50 dollars a month are often forced to do that despite knowing it's risk because withdrawing $50 BTC everytime will take away $10 to 20 as fees so they may have to save some funds and move as big chunk to reduce the fee burden.
I totally get what you’re saying. DCAing with a small amount can indeed be pretty tough, particularly when it involves high transaction fees. One may wish to regularly invest but when they think about the transaction fees, they may either feel discouraged or be left with no other choice but to consider using a local or centralized exchange for their DCA.
But the most important thing if one must consider using an exchange is making sure that the exchange chosen is somewhat safe and a very notably one.
People can do that, picking the reputed ones give somewhat the security for our funds even if we can't hold the custody of it in that case if the exchange hacked they might resolve as well as refund in case of loss even though it's not a guaranteed promise but it happened with some exchanges. So we can trust the exchange for a month when we DCAing with small amount and withdraw it monthly or bimonthly to pay less in fees.
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As a beginner investing on Bitcoin I mean holding Bitcoin for long term would be the best option, but in general what we say that we come here for invest on the altcoin like that it will make us quick rich.
But we understand that investing in bitcoin rather than altcoin when we have few knowledge about crypto space in after having some worst experience. I am talking about myself when I was newbie in this sector I wasn't really have good plan bitcoin invest and I am also regretting for that on this current time.
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As a beginner investing on Bitcoin I mean holding Bitcoin for long term would be the best option, but in general what we say that we come here for invest on the altcoin like that it will make us quick rich.
But we understand that investing in bitcoin rather than altcoin when we have few knowledge about crypto space in after having some worst experience. I am talking about myself when I was newbie in this sector I wasn't really have good plan bitcoin invest and I am also regretting for that on this current time.
If we are beginners, we don't need to invest in many coins. It is no problem to invest in altcoins, too. But only choose few top altcoins. Invest in Bitcoin, Ethereum, Solana, Ripple, and BNB coin are enough for beginners. If beginners invest in too many coins, they will get difficulty to monitor and analyze the potential of the coins. Sure, investing in Bitcoin should be the priority. Maybe 50% of the funds to invest in Bitcoin, and the rest of the funds will be put on those altcoins.
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As a beginner investing on Bitcoin I mean holding Bitcoin for long term would be the best option, but in general what we say that we come here for invest on the altcoin like that it will make us quick rich.
But we understand that investing in bitcoin rather than altcoin when we have few knowledge about crypto space in after having some worst experience. I am talking about myself when I was newbie in this sector I wasn't really have good plan bitcoin invest and I am also regretting for that on this current time.
Yes, it's true, investing in Bitcoin for newbies is the best thing chosen for investment in the crypto world. However, even so, they must also understand the fact that Bitcoin is highly fluctuating, still volatile. and they should not be indifferent to various conditions in the market, because the price of BTC can drop and rise so easily, and sometimes make beginners panic sell. In addition, they also need to understand the bearish - bullish cycle or scheme, which of course can help them determine the investment position, and the possibilities that occur, when to enter and when to exit in BTC.
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People can do that, picking the reputed ones give somewhat the security for our funds even if we can't hold the custody of it in that case if the exchange hacked they might resolve as well as refund in case of loss even though it's not a guaranteed promise but it happened with some exchanges. So we can trust the exchange for a month when we DCAing with small amount and withdraw it monthly or bimonthly to pay less in fees.
Yeah you’re absolutely right but still I wouldn’t recommend putting one’s hope or completely trusting any centralized exchanges regardless of how much security they promise to give. Thus would advice that even if one is using a centralized exchange to DCA smaller amounts, that after some period of time when the portfolio has somewhat grown to a sizeable amount, he should send it out from the exchange to a more secure wallet, and then maybe start accumulating again in the exchange, this way, you wouldn’t putting all your eggs in one basket and thus would be potentially minimizing the risks.
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But we understand that investing in bitcoin rather than altcoin when we have few knowledge about crypto space in after having some worst experience. I am talking about myself when I was newbie in this sector I wasn't really have good plan bitcoin invest and I am also regretting for that on this current time.
The problem isn't on whether we invest into Bitcoin or altcoins. The problem is the impatience of investors. We always say that we need to hold Bitcoin for long term, but there are some who are investing on Bitcoin and yet still losing money for some reasons. It's the same with altcoins. I believe that if we invest into top altcoins such as Ethereum and maybe XRP as well, the chances of these beginners losing money will decrease significantly.
As for the plan, we always need to have one. Plan on when to sell, when to buy, when to cut loss if needed, when to take profit, when to accumulate more Bitcoin or altcoins, etc. An investor without any plan at all is like a person walking in the dark. No direction at all that might lead to potential losses.
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But we understand that investing in bitcoin rather than altcoin when we have few knowledge about crypto space in after having some worst experience. I am talking about myself when I was newbie in this sector I wasn't really have good plan bitcoin invest and I am also regretting for that on this current time.
The problem isn't on whether we invest into Bitcoin or altcoins. The problem is the impatience of investors. We always say that we need to hold Bitcoin for long term, but there are some who are investing on Bitcoin and yet still losing money for some reasons. It's the same with altcoins. I believe that if we invest into top altcoins such as Ethereum and maybe XRP as well, the chances of these beginners losing money will decrease significantly.
As for the plan, we always need to have one. Plan on when to sell, when to buy, when to cut loss if needed, when to take profit, when to accumulate more Bitcoin or altcoins, etc. An investor without any plan at all is like a person walking in the dark. No direction at all that might lead to potential losses.
Anyone that invest in bitcoin and lose bought bitcoin with more than the amount of money that hw can afford to lose, and he couldn't hodli for up to 4 years and above, if not he wouldn't run at loss. The chance of you making good profit in bitcoin if you buy and hodli for long is far higher than when you buy those altcoins that you mentioned. Bitcoin is becoming more of a reserve soon.
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The problem isn't on whether we invest into Bitcoin or altcoins. The problem is the impatience of investors. We always say that we need to hold Bitcoin for long term, but there are some who are investing on Bitcoin and yet still losing money for some reasons. It's the same with altcoins. I believe that if we invest into top altcoins such as Ethereum and maybe XRP as well, the chances of these beginners losing money will decrease significantly.
As for the plan, we always need to have one. Plan on when to sell, when to buy, when to cut loss if needed, when to take profit, when to accumulate more Bitcoin or altcoins, etc. An investor without any plan at all is like a person walking in the dark. No direction at all that might lead to potential losses.
I would like to highly agree with your opinion, and also want to say that most of the time we the most of the investors did the same mistakes like when we should have make investment on the time we were in fear and don't invest on that time.
And when we shouldn't make any investment we go for the investment for only the market hype, suppose if you see most the people make investment on the cryptocurrency because it is bull season, and at a time when market take dip they will sell on the fear and have book losses.
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I would like to highly agree with your opinion, and also want to say that most of the time we the most of the investors did the same mistakes like when we should have make investment on the time we were in fear and don't invest on that time.
And when we shouldn't make any investment we go for the investment for only the market hype, suppose if you see most the people make investment on the cryptocurrency because it is bull season, and at a time when market take dip they will sell on the fear and have book losses.
Don't you think it's normal thing for people to exhibit some fears when they want to buy a coin? Some people in their life has only been hearing about coin but hasn't invested before and if they are using their hard earn money, that fear will be there. It's only someone that has been here for sometime and has taste the market wouldn't have that fear as a first timer.
What I don't like about some people approach of the market is how they do view the market. When the market is down that they ought to have bought, the wouldn't that time and will rush in to buy later when everything is now green which is the time many people do exit the market.
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Don't you think it's normal thing for people to exhibit some fears when they want to buy a coin? Some people in their life has only been hearing about coin but hasn't invested before and if they are using their hard earn money, that fear will be there. It's only someone that has been here for sometime and has taste the market wouldn't have that fear as a first timer.
What I don't like about some people approach of the market is how they do view the market. When the market is down that they ought to have bought, the wouldn't that time and will rush in to buy later when everything is now green which is the time many people do exit the market.
This is the ugly reality that we cannot ignore. Where we should know and analyze the sector well before investing our hard-earned money in any sector.
There we are investing without doing proper analysis or knowing anything about the industry and are only relying on hype. And this is completely due to our inner greed that we may be able to earn a lot of profit in a short time. I never support this in any way, although I myself have entered this world by making such mistakes.
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I believe that trading requires a lot, including:
1. experience
2. knowledge
3. skill
4. courage
5. capital
One to 4 may be able to gradually go through it if we jump straight into this crypto space but remember number 5 is capital that makes us think rationally about how to get that capital.
Sometimes we have experience too if without capital it's the same as we can't get profit because the initial stage for trading is capital.
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One to 4 may be able to gradually go through it if we jump straight into this crypto space but remember number 5 is capital that makes us think rationally about how to get that capital.
Sometimes we have experience too if without capital it's the same as we can't get profit because the initial stage for trading is capital.
You have captured an important point. I will agree with you that it may take a person a few years to achieve your first four points, but what I want to say here is that when a person becomes very proficient in these four areas, he will not have to worry about his capital, although in the beginning he will have to raise the initial capital, be it from his job salary or from his savings.
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I believe that trading requires a lot, including:
1. experience
2. knowledge
3. skill
4. courage
5. capital
Exactly, and this is all through learning and also the process. It is not easy for that, but if it is not attempted, yes indirectly we are not really ready to start trading. But unfortunately, currently there are still many people who start trading because they just follow suit. let alone to do TA or FA analysis, just to choose a coin or understand about crypto is not necessarily. even just relying on big hopes:
"I have money, I will trade, buy and sell, then make a lot of profit quickly like those successful people"
Ah this is just part of the dream at the beginning, before being hit by mental shock due to the real trading conditions.
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But unfortunately, currently there are still many people who start trading because they just follow suit. let alone to do TA or FA analysis, just to choose a coin or understand about crypto is not necessarily. even just relying on big hopes:
This is me when i trade but i choose the coin properly enough to check if the coin still have the volatility to make sn income, i didn't have any TA skills just relying on news then sell if i think you gain enough profit.
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One to 4 may be able to gradually go through it if we jump straight into this crypto space but remember number 5 is capital that makes us think rationally about how to get that capital.
Sometimes we have experience too if without capital it's the same as we can't get profit because the initial stage for trading is capital.
You have captured an important point. I will agree with you that it may take a person a few years to achieve your first four points, but what I want to say here is that when a person becomes very proficient in these four areas, he will not have to worry about his capital, although in the beginning he will have to raise the initial capital, be it from his job salary or from his savings.
But as far as I know, if trading in crypto using savings from salary, I see them regretting it, this is the average according to my experience for those who will trade with savings. They don't want to use hot money but they are willing to trade if they use free money.
I believe that trading requires a lot, including:
1. experience
2. knowledge
3. skill
4. courage
5. capital
~snip~
Ah this is just part of the dream at the beginning, before being hit by mental shock due to the real trading conditions.
Mental Shock is what I fear if we are beginners who trade in crypto, because the price changes are very fast, of course this Mental Shock is always present in us and this is definitely very difficult to face.
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But as far as I know, if trading in crypto using savings from salary, I see them regretting it, this is the average according to my experience for those who will trade with savings. They don't want to use hot money but they are willing to trade if they use free money.
And this is not a new thing in this industry peoples who invest in trading from their savings but they don't know the analysis after reading, and don't have any experience and lower knowledge and courage. These thing are easy to hear but gain to these things takes some years and after when a trader gain all of their in their inside he must be successful.
Go and check them they must don't have Enough things in there inside but they invest on trading early and at the end they just regretting for their loss.
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But as far as I know, if trading in crypto using savings from salary, I see them regretting it, this is the average according to my experience for those who will trade with savings. They don't want to use hot money but they are willing to trade if they use free money.
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Go and check them they must don't have Enough things in there inside but they invest on trading early and at the end they just regretting for their loss.
What you said is exactly what is experienced in my own environment here, those who are inexperienced and immediately trade crypto with capital from their salary, then the end result is regret. They are too greedy and choose to trade strange altcoins that have no fundamentals, I think they will profit if they trade with Bitcoin, it is even better to be a Bitcoin holder for the long term.
The problem is if they are Bitcoin holders for the long term then they cannot eat, drink, entertainment in the short term because Bitcoin's price also goes up and down in the short term. That's why I have not been suggesting or providing information about crypto to the surrounding environment lately because the effects are afraid of being like that too.
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The most important thing for those who are completely new is to learn first and then, after gaining knowledge, they can trade if they wish. However, before trading, a trader must know a lot of things, conduct market analysis, and stay up-to-date on market updates, otherwise there will be no benefit from trading. When trading, you cannot be overly greedy and you must control your emotions, otherwise trading will never be profitable. That's why it's recommended for newbies to hold instead of trading.
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What you said is exactly what is experienced in my own environment here, those who are inexperienced and immediately trade crypto with capital from their salary, then the end result is regret. They are too greedy and choose to trade strange altcoins that have no fundamentals, I think they will profit if they trade with Bitcoin, it is even better to be a Bitcoin holder for the long term.
The problem is if they are Bitcoin holders for the long term then they cannot eat, drink, entertainment in the short term because Bitcoin's price also goes up and down in the short term. That's why I have not been suggesting or providing information about crypto to the surrounding environment lately because the effects are afraid of being like that too.
Sorry dude even done I agree with you on the some other point what you mention but I couldn't agree with this that the long term holders couldn't eat or drink or entertainment.
Because I think long term Bitcoin holders did these things more widely than the short term trader. Obviously not those holders who were for investing all their income for holding bitcoin. There is a rules that invest as much as you can afford to lose.And if a holder keep increasing their adopting by this strategy with DCA scheme then I don't think they will face such situation what you mentioned.
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The most important thing for those who are completely new is to learn first and then, after gaining knowledge, they can trade if they wish. However, before trading, a trader must know a lot of things, conduct market analysis, and stay up-to-date on market updates, otherwise there will be no benefit from trading. When trading, you cannot be overly greedy and you must control your emotions, otherwise trading will never be profitable. That's why it's recommended for newbies to hold instead of trading.
Very appreciative of what you say because all of that is the basis before we go to a better level, namely trade. Because all aspects must be done well, so that it is not wrong in determining where we will direct and what we will go. The most important thing is not to have a greedy feeling, if we have entered the trade, because we have to determine where we must not continue the alias, stop and immediately sell, and not continue to find a profit that is finally the opportunity to disappear because of the greedy nature.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
Exactly what i told someone today even though i’m not a pro yet with the knowledge i have. I will always advocate for using demo accounts for trading before starting full time, demo accounts give newbies the trial and error opportunities without any costly consequences.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
Exactly what i told someone today even though i’m not a pro yet with the knowledge i have. I will always advocate for using demo accounts for trading before starting full time, demo accounts give newbies the trial and error opportunities without any costly consequences.
For those who have not studied properly, it is reasonable to avoid trading, or as you said, by using a demo account, even though in reality sometimes it can not be in line, but to learn there is no problem.
Although maybe if there is courage to jump straight into using the smallest nominal until you master it properly and gradually, to increase the value of your trade.
All can be used and just adjust to your circumstances.
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For those who have not studied properly, it is reasonable to avoid trading, or as you said, by using a demo account, even though in reality sometimes it can not be in line, but to learn there is no problem.
Although maybe if there is courage to jump straight into using the smallest nominal until you master it properly and gradually, to increase the value of your trade.
But if you never learn trading, you will never know trading. In my opinion, it is no problem to trade but we only trade with small funds. We can learn more knowledge while we are trading, so we also can improve our experience. I don't think demo trading will be very useful because it is not real trading. I personally never use demo trading until now. I prefer to try the real trading but I use small money to avoid severe losses.
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For those who have not studied properly, it is reasonable to avoid trading, or as you said, by using a demo account, even though in reality sometimes it can not be in line, but to learn there is no problem.
Although maybe if there is courage to jump straight into using the smallest nominal until you master it properly and gradually, to increase the value of your trade.
But if you never learn trading, you will never know trading. In my opinion, it is no problem to trade but we only trade with small funds. We can learn more knowledge while we are trading, so we also can improve our experience. I don't think demo trading will be very useful because it is not real trading. I personally never use demo trading until now. I prefer to try the real trading but I use small money to avoid severe losses.
Agree with what I think because demo trading is not always the same as the market situation at that time, so it seems like you will experience something that is not appropriate, and it is feared that you will experience losses that you don't want.
That's why it is very important to know that trading by jumping in directly is something that is very wise, but it is always gradual with a small nominal and when you already have a good trading foundation, you start to increase it.
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Exactly what i told someone today even though i’m not a pro yet with the knowledge i have. I will always advocate for using demo accounts for trading before starting full time, demo accounts give newbies the trial and error opportunities without any costly consequences.
If you are newbie, it is good to use demo-account first. We can understand the basic things if we use the demo account. But we don't rely on the demo account to improve our ability. It is only the way to understand the basic things in trading. If we want to improve our knowledge, we must try real trading. However, we don't directly use big amount of money because the chance to lose is still high. We use small amount of money only for practicing in trading.
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Exactly what i told someone today even though i’m not a pro yet with the knowledge i have. I will always advocate for using demo accounts for trading before starting full time, demo accounts give newbies the trial and error opportunities without any costly consequences.
If you are newbie, it is good to use demo-account first. We can understand the basic things if we use the demo account. But we don't rely on the demo account to improve our ability. It is only the way to understand the basic things in trading. If we want to improve our knowledge, we must try real trading. However, we don't directly use big amount of money because the chance to lose is still high. We use small amount of money only for practicing in trading.
I must say that I agree with what you said that using a demo account is only to learn the basics, but it does not ensure that the demo account will be in accordance with the current situation, always updating, but it would be better to jump in directly where you will understand the best way to take later, but it must start with the smallest value and gradually increase when you understand it.
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I must say that I agree with what you said that using a demo account is only to learn the basics, but it does not ensure that the demo account will be in accordance with the current situation, always updating, but it would be better to jump in directly where you will understand the best way to take later, but it must start with the smallest value and gradually increase when you understand it.
Yeah. While I strongly advice those who are starting out their trading journey to do so using a demo account, that doesn’t mean that there’s no difference between a demo accounts and a real one. Demo accounts are indeed just there to make sure one gets the necessary experiences and also know how to manage their portfolio, so that when they start using a real account, they’d be able to avoid making certain mistakes because they’d be fully aware of the basic rules and procedures of trading.
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Yeah. While I strongly advice those who are starting out their trading journey to do so using a demo account, that doesn’t mean that there’s no difference between a demo accounts and a real one. Demo accounts are indeed just there to make sure one gets the necessary experiences and also know how to manage their portfolio, so that when they start using a real account, they’d be able to avoid making certain mistakes because they’d be fully aware of the basic rules and procedures of trading.
A good way to start with a demo account, but don't get too carried away in the demo account game because what you can't get from a demo account is a fluctuation in a person's psychology, because every decision taken in trading will involve psychology and that in my opinion is an important point for a trader to be able to manage how they should act.
Experience is very important and real experience cannot be obtained from a demo account, real practice with a small capital is also needed to see how far we can learn and understand trading well enough.
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A good way to start with a demo account, but don't get too carried away in the demo account game because what you can't get from a demo account is a fluctuation in a person's psychology, because every decision taken in trading will involve psychology and that in my opinion is an important point for a trader to be able to manage how they should act.
Experience is very important and real experience cannot be obtained from a demo account, real practice with a small capital is also needed to see how far we can learn and understand trading well enough.
It is true that we will not see the same psychological condition in a person when they do demo trading and when the start the real trading the their money, but I also don't prefer to start trading before having the proper knowledge of trading as well.
Even they earn knowledge about trading they start with the demo trading and then when they know how and where they were making mistakes or having profit and what the reason then they should get trading with the real money,.
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Experience is very important and real experience cannot be obtained from a demo account, real practice with a small capital is also needed to see how far we can learn and understand trading well enough.
Maybe this is more into the stage of learning trading. That is indeed direct experience for trading cannot be obtained directly from a demo account. However, as a start to learning trading, a demo account can be one way for the learning stage, with a demo account, the beginner can at least understand some experience about its features, about how to set margin, SL / TP, coins, and so on. So that when the beginner enters real trading, at least they have understood some things first, not things that are all new.
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Experience is very important and real experience cannot be obtained from a demo account, real practice with a small capital is also needed to see how far we can learn and understand trading well enough.
Yeah that is true, when you are trading and you know you are not risking any of your money, things may just be going right for you, it does not mean you now possess all the trading skills. When your money is involved, there is emotions and fear, you may see yourself making mistakes and losing money.
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Experience is very important and real experience cannot be obtained from a demo account, real practice with a small capital is also needed to see how far we can learn and understand trading well enough.
Yeah that is true, when you are trading and you know you are not risking any of your money, things may just be going right for you, it does not mean you now possess all the trading skills. When your money is involved, there is emotions and fear, you may see yourself making mistakes and losing money.
Indeed, you will not be called crypto enthusiast if you never tried trading once regarding the result is (profit or loss). It's actually exciting even as a beginner on how and when to buy/sell even having just the very basic fundamentals in trading, buy low, sell high.
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Experience is very important and real experience cannot be obtained from a demo account, real practice with a small capital is also needed to see how far we can learn and understand trading well enough.
Yeah! Demo accounts do not actually carry exactly the same qualities as a real one, although they have several similarities and it’s also there to show you what to expect when you approach ye real market. It is these experiences that helps us navigate our way around the market effectively and efficiently. So even if we’ll use a real account to practice with small amount of money, it’s advisable to start off with a demo account first, this could actually prevent you from experiencing first hand losses due to insufficient or no experience about the market.
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Yeah! Demo accounts do not actually carry exactly the same qualities as a real one, although they have several similarities and it’s also there to show you what to expect when you approach ye real market. It is these experiences that helps us navigate our way around the market effectively and efficiently. So even if we’ll use a real account to practice with small amount of money, it’s advisable to start off with a demo account first, this could actually prevent you from experiencing first hand losses due to insufficient or no experience about the market.
It is true even the Demo trading account don't gives the actually feeling when we do trading with the original fund but it was not wise decision when you are new in this space and want to learn trading it was not a wise decision that learning trading via the original fund at least when we were in the learning phase it should be used for the demo accounts then when we got some knowledge and analysis skill then we can jump into trading.
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-snip-
So even if we’ll use a real account to practice with small amount of money, it’s advisable to start off with a demo account first, this could actually prevent you from experiencing first hand losses due to insufficient or no experience about the market.
If you have no experience at all, using a demo account can be the right solution, but of course to practice trading psychology you must also use a real account.
I only used the demo account a few times and then tried the real account to start my first trade, it was very different and made me more challenged to keep improving.
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It is true even the Demo trading account don't gives the actually feeling when we do trading with the original fund but it was not wise decision when you are new in this space and want to learn trading it was not a wise decision that learning trading via the original fund at least when we were in the learning phase it should be used for the demo accounts then when we got some knowledge and analysis skill then we can jump into trading.
It is because we have no risks in using demo account. Meanwhile when we try real trading, we can lose our money if we don't do it properly. But for the beginners who don't know anything, using demo account firstly is a wise choice. Then, they can try real trading when they know well the basic things. Anyway, I'm not sure if we will get enough analysis skill from demo account. Analysis skill will be easily obtained when we use real trading.
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It is because we have no risks in using demo account. Meanwhile when we try real trading, we can lose our money if we don't do it properly. But for the beginners who don't know anything, using demo account firstly is a wise choice. Then, they can try real trading when they know well the basic things. Anyway, I'm not sure if we will get enough analysis skill from demo account. Analysis skill will be easily obtained when we use real trading.
Trying on trading especially on spot is good thing for trials, as long that you use it on tokens or coins that is more stable than those tokens who has more volatility. On spot and with more stable coins can loss minimal or profit too as long you use stop-order.
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It is because we have no risks in using demo account. Meanwhile when we try real trading, we can lose our money if we don't do it properly. But for the beginners who don't know anything, using demo account firstly is a wise choice. Then, they can try real trading when they know well the basic things. Anyway, I'm not sure if we will get enough analysis skill from demo account. Analysis skill will be easily obtained when we use real trading.
Yes I know this but when a person really want to start trading and know the trading they must be used the demo features in the start and then when he have at least some skill on TA and FA he should apply on the demo option and then from that result he will also know that how he is doing trading where he is making the mistakes.
And then when he will know all the thing he will start his trading with the real fund.
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It is true even the Demo trading account don't gives the actually feeling when we do trading with the original fund but it was not wise decision when you are new in this space and want to learn trading it was not a wise decision that learning trading via the original fund at least when we were in the learning phase it should be used for the demo accounts then when we got some knowledge and analysis skill then we can jump into trading.
I believe one of the reasons why trading with demo accounts often feels different is often because traders trade with the consciousness that they have absolutely nothing to lose, thus they don’t critically analyze their trades before placing them. And this isn’t the case when you trade with real funds, because you’ll know that a slight mistake might cost you a lot and so you’ll be careful.
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I believe one of the reasons why trading with demo accounts often feels different is often because traders trade with the consciousness that they have absolutely nothing to lose, thus they don’t critically analyze their trades before placing them. And this isn’t the case when you trade with real funds, because you’ll know that a slight mistake might cost you a lot and so you’ll be careful.
I have also same thought about the demo trading features but when I saw a professional trader interview on a news channel my thought change about this demo features because if we goes for learning with the real money there will be just increasing loss amount day by day, and here to acquire the knowledge of trading in some cases you will have to need learning and practicing few months to years+ so I don't think it's wise to use the real money for learning the trading.
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I have also same thought about the demo trading features but when I saw a professional trader interview on a news channel my thought change about this demo features because if we goes for learning with the real money there will be just increasing loss amount day by day, and here to acquire the knowledge of trading in some cases you will have to need learning and practicing few months to years+ so I don't think it's wise to use the real money for learning the trading.
Demo account is indeed for those who have absolutely no idea of how the market works, its features and how to use or apply them in day to day trading in order to make their trading experience more convenient and productive. I think a few months is just okay for someone practicing with a demo account, you don’t have to use it for years as it’s only there to offer you guidance on the basics of trading, and then you can move on to using a real account. The reason we decide to begin with a demo account isn’t actually to perfect their skills or completely avoid losses, because those losses are inevitable. We do so to prepare our minds and have a good idea of what we are to face in the real trading market.
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It is true even the Demo trading account don't gives the actually feeling when we do trading with the original fund but it was not wise decision when you are new in this space and want to learn trading it was not a wise decision that learning trading via the original fund at least when we were in the learning phase it should be used for the demo accounts then when we got some knowledge and analysis skill then we can jump into trading.
I believe one of the reasons why trading with demo accounts often feels different is often because traders trade with the consciousness that they have absolutely nothing to lose, thus they don’t critically analyze their trades before placing them. And this isn’t the case when you trade with real funds, because you’ll know that a slight mistake might cost you a lot and so you’ll be careful.
You are right, because trading with Demo account will make you do whatever you like believing that you will not run at loss in real life. Your emotions wouldn't be put to test. It's same thing like playing a game without staking and staking on a game that you are playing. The difference will always be there. Some people can't control their emotions when trading, and some is that they are greedy.
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Everyone, not just beginners, should avoid trading and holding unless they are experts in market analysis. No one can make a good profit on average by trading, besides profit when they lose, on average some equal and some lose. But those holding Bitcoin never lose unless they panic and sell at a loss.
All the traders I have heard so far are losing on average. Yet they train because it has become their addiction. So it is not good for anyone to turn trading into an addiction unless they are an expert
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By now we should have known what's good for us and what is not, trading is not just what we are going to start doing when we lack the necessary preparation and adequate plan needed for it, another thing we should know is that trading is not what anyone can boast of, because even the experienced ones in trading do fail in their attempts and make losses, but holding for a longer time will always amount to profitability.
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You are right, because trading with Demo account will make you do whatever you like believing that you will not run at loss in real life. Your emotions wouldn't be put to test. It's same thing like playing a game without staking and staking on a game that you are playing. The difference will always be there. Some people can't control their emotions when trading, and some is that they are greedy.
Yeah! Even with demo accounts, one still needs to know how to control their emotions because without self control, they may not really be able to learn the concepts and basics of trading. Just like you said, the difference will always be there, no matter how many times they use a demo account to practice, if they’re not able to achieve control of their emotion, even if they use a real account, they’ll still encounter losses like they never actually practiced trading at all.
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It is true even the Demo trading account don't gives the actually feeling when we do trading with the original fund but it was not wise decision when you are new in this space and want to learn trading it was not a wise decision that learning trading via the original fund at least when we were in the learning phase it should be used for the demo accounts then when we got some knowledge and analysis skill then we can jump into trading.
I believe one of the reasons why trading with demo accounts often feels different is often because traders trade with the consciousness that they have absolutely nothing to lose, thus they don’t critically analyze their trades before placing them. And this isn’t the case when you trade with real funds, because you’ll know that a slight mistake might cost you a lot and so you’ll be careful.
This is why when I started trading, I didn't try to do it on demo.
If you try trading on Demo account, you will have this feeling of "I can just put my money in a single trade and go all-in, and I don't care if I lose because... it's a demo account." and because of that, you will still not learn from it. I know this isn't the case for most of the traders who are using demo accounts, but for me, I have this kind of feeling hence, I didn't try it at all.
I always believe that you will only learn when you are doing it using your actual money. In that way, you will learn how to control your emotions properly, you will learn the exact strategies that you need because you have real money that you're using, and if you manage to make a single mistake, there's a huge chance that you might lose it all. Demo account for me isn't working.
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This is why when I started trading, I didn't try to do it on demo.
If you try trading on Demo account, you will have this feeling of "I can just put my money in a single trade and go all-in, and I don't care if I lose because... it's a demo account." and because of that, you will still not learn from it. I know this isn't the case for most of the traders who are using demo accounts, but for me, I have this kind of feeling hence, I didn't try it at all.
It’s always important to identify what really works for you as a trader and also stick by it. Yes there are those who can actually practice using a demo account without feeling reckless with the funds there at all, and if are not told, you wouldn’t even know it’s actually a demo account, and there are those who are not like that, everyone is different in their own ways and it’s good that you discovered where you fall in early and you stuck with what works for you.
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Before investing into bitcoin, you must do your own research first and when you decided to invest, just invest what you can afford to lose.
This is just simple tip for all beginners who wanted to start investing in bitcoin.
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Before investing into bitcoin, you must do your own research first and when you decided to invest, just invest what you can afford to lose.
This is just simple tip for all beginners who wanted to start investing in bitcoin.
I agree with this point of view: avoid all pressure from crypto investment. Crypto is only part of the financial market, it has great volatility and we should only participate with the money that we are willing to lose. I know many big funds are putting a lot of money into BTC, even Strategy company is focusing on this asset but they have a better position than small investors.
Crypto investors should have BTC in their accounts, then they can think of altcoins like ETH, BNB, SOL, XRP. Without BTC, they may have to experience a lot of fear in this market.
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Trying on trading especially on spot is good thing for trials, as long that you use it on tokens or coins that is more stable than those tokens who has more volatility. On spot and with more stable coins can loss minimal or profit too as long you use stop-order.
Yes, for beginners we can use spot trading. We can choose the top coins for the safety purpose. We can minimize the chance of losses if we trade in spot and with top coins. however, we must know the basic things in trading first. So, we also can raise the chance for profits. I think we don't need to use stable coins, it is better to use more volatile coins. This can create a chance of bigger profits.
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.... I think we don't need to use stable coins, it is better to use more volatile coins. This can create a chance of bigger profits.
It's also mean a higher chance of lossing, more importantly mostly new traders loss than getting profit. But with more knowledge and experience overtime, it can be taken back if keep pursuing it.
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Yeah! Even with demo accounts, one still needs to know how to control their emotions because without self control, they may not really be able to learn the concepts and basics of trading. Just like you said, the difference will always be there, no matter how many times they use a demo account to practice, if they’re not able to achieve control of their emotion, even if they use a real account, they’ll still encounter losses like they never actually practiced trading at all.
I think it is easy to control emotion when we use the demo account. It is because we know that there is no risk of losing money. That's why it is not enough to learn from demo account only, we need the real trading from real account. When we start real trading, we will have a pressure because we may lose money if we don't do it properly. In this time, we must have a way to control our emotion and our fear. But of course we must start with small money only. So, there will be no too high pressure.
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I think it is easy to control emotion when we use the demo account. It is because we know that there is no risk of losing money. That's why it is not enough to learn from demo account only, we need the real trading from real account. When we start real trading, we will have a pressure because we may lose money if we don't do it properly. In this time, we must have a way to control our emotion and our fear. But of course we must start with small money only. So, there will be no too high pressure.
That's why I didn't start with a demo account. I know that I will not learn from it especially when it comes to controlling emotions. If I will try it, there's this thing in the back of my mind where I will be saying "It's only a demo account, I don't care if I lose or win." and because of that, you will make decisions that are not based on your strategy but based on your emotions. That kind of trading will not make you profitable at all.
Speaking of small money only, I already decreased my trading capital significantly after losing too much on trading. I'm still finding the right strategy that will work for me. Currently, the market is going down so beware for those who're trading there and always look for the market first before positioning. :)
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That's why I didn't start with a demo account. I know that I will not learn from it especially when it comes to controlling emotions. If I will try it, there's this thing in the back of my mind where I will be saying "It's only a demo account, I don't care if I lose or win." and because of that, you will make decisions that are not based on your strategy but based on your emotions. That kind of trading will not make you profitable at all.
Speaking of small money only, I already decreased my trading capital significantly after losing too much on trading. I'm still finding the right strategy that will work for me. Currently, the market is going down so beware for those who're trading there and always look for the market first before positioning. :)
Making decisions based on emotions isn’t just when one uses a demo account, even with real accounts, certain decisions can still get you caught up with your emotions and result in making mistakes and wrong decisions thereby leading to losses. But you’re right, one gets to learn faster when they they use a real account with real money because you get to face the real market, take real risks and start acquiring both basic and advanced knowledges while building and developing your own very strategy.
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It's also mean a higher chance of lossing, more importantly mostly new traders loss than getting profit. But with more knowledge and experience overtime, it can be taken back if keep pursuing it.
Of course, when it has a bigger volatility, we also have the chance to lose bigger money. Sure, there will be always big risk if we want to expect big profits as well. There is no way that we want to get huge profits but we want to choose something that has no risks. However, if we have knowledge, we shouldn't be afraid with the risks. We can get the ways to deal with the risks if we have knowledge.
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Of course, when it has a bigger volatility, we also have the chance to lose bigger money.
With the right trading skill set, losses can be managed effectively. Instead of taking major hits, a well-planned strategy allows traders to minimize losses and make informed decisions. Risk management, technical analysis, and emotional discipline all play a crucial role in maintaining control over trades and preventing significant setbacks.
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With the right trading skill set, losses can be managed effectively. Instead of taking major hits, a well-planned strategy allows traders to minimize losses and make informed decisions.
Yes, right trading skill set helps to manage losses and recover the lost money and at the same time to make money from the market by trading. Some traders use stop-loss while others buy dips and then average their positions and those are some good risk management tools used by top level traders.
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In our community there is a member who is experienced and I will give the initials R to that member. All members in our community were given information by R that Bitcoin is indeed suitable for Hodl, if traded then our feelings will be mixed, our emotions and patience will be drained.
R also said that Bitcoin at a price below 30 dollars is very easy to get and at that time R said that the Bitcoin he got was only Hodl until he needed it for his daily life.
Unfortunately, now Bitcoin is expensive and to Hodl even with a value of 30 dollars it is around 0.0003 maybe or less and to achieve high profits it takes a long time because the price is already expensive.
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Dca an hodl!!
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With the right trading skill set, losses can be managed effectively. Instead of taking major hits, a well-planned strategy allows traders to minimize losses and make informed decisions.
Yes, right trading skill set helps to manage losses and recover the lost money and at the same time to make money from the market by trading. Some traders use stop-loss while others buy dips and then average their positions and those are some good risk management tools used by top level traders.
Well, yes, indeed when it comes to strategy and tactics in trading, each trader may be different. But what is certain is that management in trading that includes risk management, funds, emotions, and strategies must be done carefully. Because this will greatly affect the results. Many people do not like to use SL, but many others also prefer to use SL because it minimizes the risk of greater loss. So this also depends on what steps and what risks are taken. I personally prefer to use SL, to manage the risks that I can bear.
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In our community there is a member who is experienced and I will give the initials R to that member. All members in our community were given information by R that Bitcoin is indeed suitable for Hodl, if traded then our feelings will be mixed, our emotions and patience will be drained.
R also said that Bitcoin at a price below 30 dollars is very easy to get and at that time R said that the Bitcoin he got was only Hodl until he needed it for his daily life.
Unfortunately, now Bitcoin is expensive and to Hodl even with a value of 30 dollars it is around 0.0003 maybe or less and to achieve high profits it takes a long time because the price is already expensive.
Buying and holding with only $30 for the long term will barely get someone anything. It is good if someone can keep doing DCA into Bitcoin between intervals with $30 or even less so that after some time, they can have a reasonable amount that might give them something good in return after a few years of them holding it.
Holding for 5 years and getting $100 to $200 in profits with a $30 investment isn't worth it, to be honest. Those who have small capital should look more into altcoins and invest their money in altcoins that have good potential and can grow pretty high in the future, so that even if they invest a small amount, they might get good returns after a few years if they keep holding.
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In our community there is a member who is experienced and I will give the initials R to that member. All members in our community were given information by R that Bitcoin is indeed suitable for Hodl, if traded then our feelings will be mixed, our emotions and patience will be drained.
R also said that Bitcoin at a price below 30 dollars is very easy to get and at that time R said that the Bitcoin he got was only Hodl until he needed it for his daily life.
Unfortunately, now Bitcoin is expensive and to Hodl even with a value of 30 dollars it is around 0.0003 maybe or less and to achieve high profits it takes a long time because the price is already expensive.
Buying and holding with only $30 for the long term will barely get someone anything. It is good if someone can keep doing DCA into Bitcoin between intervals with $30 or even less so that after some time, they can have a reasonable amount that might give them something good in return after a few years of them holding it.
Maybe what R meant was to first test the DCA with 30 dollars, if you feel that in 3 months you can see the trick, method, hodl, APY value, then continue with a multiple increase in capital, for example with a capital of 300 dollars or every month buy Bitcoin with a capital of 3,000 dollars.
Holding for 5 years and getting $100 to $200 in profits with a $30 investment isn't worth it, to be honest. Those who have small capital should look more into altcoins and invest their money in altcoins that have good potential and can grow pretty high in the future, so that even if they invest a small amount, they might get good returns after a few years if they keep holding.
Many also say in our community besides Mister R also to trade with altcoins but Mister R does not want to take risks so he gives an example of DCA Bitcoin with a capital of 30 dollars for each week.
Maybe other members of the 30 dollars are given advice to buy altcoins such as Ethereum, BNB, Solana but the effect of the name altcoins always gives surprises that sometimes we are not ready for the value that will plummet.
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So it is not like newbies can not go into trading instead of holding rather you just have to acquire the dosage of knowledge required before getting to trading.
Even a basic knowledge is not enough for your start of you don't want to loose your funds instead you must be adequately be grounded before keying in other make intentional decisions instead getting on pressure dur to greeds.
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Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
It doesn't matter if you are holding or short term trading. The goal is any one that you understand better and are able to make profits from, you stick to it. Everyone has their target. Some might be for a short term gain while others a long term gain. So it depends on you to make that decision.
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It doesn't matter if you are holding or short term trading. The goal is any one that you understand better and are able to make profits from, you stick to it. Everyone has their target. Some might be for a short term gain while others a long term gain. So it depends on you to make that decision.
Actually depending on make decision is not always work because the thing you and we all know that in the trading space every people have only one intention to make profit and in this case we forgot that we have to also the skills and knowledge to gain the profit and ultimately when we goes for trading it doesn't matter we do the short-term or the long term strategy we just face losses.
So first thing here we must should know the analysis skill before making any kind of investment.
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It's also mean a higher chance of lossing, more importantly mostly new traders loss than getting profit. But with more knowledge and experience overtime, it can be taken back if keep pursuing it.
That’s true, the more traders advance in their skills, the more they learn to balance their strategy, identify their risk tolerance level and learn more about controlling their emotions when trading which are the most important things in trading, if a trader is gonna stay in profits, because without these things, then the trader will surely remain in a loss
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With the right trading skill set, losses can be managed effectively. Instead of taking major hits, a well-planned strategy allows traders to minimize losses and make informed decisions. Risk management, technical analysis, and emotional discipline all play a crucial role in maintaining control over trades and preventing significant setbacks.
Of course, we can deal with the risks and even avoid losses if we have good skills or knowledge. That's why beginners must focus on having proper knowledge/skills first before they begin their trading journey. Technical analysis, fundamental analysis, risk management, mentality management, and financial management are few matters to have by the beginners. If they have these, they will be safe to trad crypto coins.
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With the right trading skill set, losses can be managed effectively. Instead of taking major hits, a well-planned strategy allows traders to minimize losses and make informed decisions. Risk management, technical analysis, and emotional discipline all play a crucial role in maintaining control over trades and preventing significant setbacks.
Of course, we can deal with the risks and even avoid losses if we have good skills or knowledge. That's why beginners must focus on having proper knowledge/skills first before they begin their trading journey. Technical analysis, fundamental analysis, risk management, mentality management, and financial management are few matters to have by the beginners. If they have these, they will be safe to trad crypto coins.
You really do mentioned almost everything a new trader must have knowledge about before getting into the trading long journey. A lot of things to consider and try to acknowledge before being into trading is not only capital that matters knowledge pays a big role in the aspect. When one’s have knowledge and understand more and more about the market and also knowns the fundamentals and technical analysis then it really easy in making money from the big market and also as a new trader one has to do away with emotional stuff and stick stronger or else you won’t be able to trade with one mindset. And the most important aspect risk management, try everything possible to use risk management to avoid some big loss and take advantage of the market.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
There is nothing wrong in going into trading mate. If you have someone that's will actually put you through, then you can go ahead with asking them to teach you how they do it. Remember that weather holding or trading, the goal is to make profits on the long run.
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.... I think we don't need to use stable coins, it is better to use more volatile coins. This can create a chance of bigger profits.
It's also mean a higher chance of lossing, more importantly mostly new traders loss than getting profit. But with more knowledge and experience overtime, it can be taken back if keep pursuing it.
Experience never lies... we can all even observe the activity patterns of experienced traders who tend to have better and neater management... while those with little experience, meaning they are still at the stage of trying until they find an error... that's very natural.. and that's why the early stages are the most difficult for traders...
Actually, the recommendation to just hold for beginners is not bad... considering that many people tend to start training their patience in going through a market that is correcting, until finally they get used to the bearish market... there their mentality and courage to develop can start to be built faster...
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You really do mentioned almost everything a new trader must have knowledge about before getting into the trading long journey. A lot of things to consider and try to acknowledge before being into trading is not only capital that matters knowledge pays a big role in the aspect. When one’s have knowledge and understand more and more about the market and also knowns the fundamentals and technical analysis then it really easy in making money from the big market and also as a new trader one has to do away with emotional stuff and stick stronger or else you won’t be able to trade with one mindset. And the most important aspect risk management, try everything possible to use risk management to avoid some big loss and take advantage of the market.
Having proper knowledge first is a must for each new trader or investor. It is better to focus on learning the knowledge for few days or weeks. The new trader/investor shouldn't trade immediately with lack of knowledge. It only wastes money and time, I am sure they won't earn any profit. Yes, risk management is crucial factor besides mentality and skills. These are some matters that new traders/investors must have before they begin their early trading or investment.
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You really do mentioned almost everything a new trader must have knowledge about before getting into the trading long journey. A lot of things to consider and try to acknowledge before being into trading is not only capital that matters knowledge pays a big role in the aspect. When one’s have knowledge and understand more and more about the market and also knowns the fundamentals and technical analysis then it really easy in making money from the big market and also as a new trader one has to do away with emotional stuff and stick stronger or else you won’t be able to trade with one mindset. And the most important aspect risk management, try everything possible to use risk management to avoid some big loss and take advantage of the market.
Having proper knowledge first is a must for each new trader or investor. It is better to focus on learning the knowledge for few days or weeks. The new trader/investor shouldn't trade immediately with lack of knowledge. It only wastes money and time, I am sure they won't earn any profit. Yes, risk management is crucial factor besides mentality and skills. These are some matters that new traders/investors must have before they begin their early trading or investment.
you really understand what I’m saying, knowledge is the key having knowledge before taking part in it will always give you bigger probability over it and will give you higher advantage over the market not only the market other aspect of things you found your self in knowledge pays out it only takes time and when you are into trading you will be familiar with the term patience so that what it takes patience and the trend will definitely be your friend.
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There is nothing wrong in going into trading mate. If you have someone that's will actually put you through, then you can go ahead with asking them to teach you how they do it.
Yep. It is okay to try trading although someone is a newbie. But before trading, he/she must ensure that he/she already learned trading correctly and have sufficient knowledge. A newbie can use demo trading, too. This will be very helpful for newbies to understand the basic things in practicing trading. However, when a newbie starts to think about getting experience, he/she must start real trading. Just use small capital for the first time in trading! It will avoid the severe losses. By the way, I assume a newbie will never be a professional trader if he/she never tries trading. Every professional/experienced trader must ever become a newbie in their early journey.
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There is nothing wrong in going into trading mate. If you have someone that's will actually put you through, then you can go ahead with asking them to teach you how they do it.
Yep. It is okay to try trading although someone is a newbie. But before trading, he/she must ensure that he/she already learned trading correctly and have sufficient knowledge. A newbie can use demo trading, too. This will be very helpful for newbies to understand the basic things in practicing trading. However, when a newbie starts to think about getting experience, he/she must start real trading. Just use small capital for the first time in trading! It will avoid the severe losses. By the way, I assume a newbie will never be a professional trader if he/she never tries trading. Every professional/experienced trader must ever become a newbie in their early journey.
In essence, it is the readiness before trading.
because this is what will bring the newbie traders to safety in the future. because, without any preparation, it will only be like gambling, looking for profit based on luck alone.
preparation includes several things, related to the readiness of knowledge and understanding of crypto, trading, and so on, including how FA and TA affect trading decisions. Then there is mental readiness, this is also very influential because without it, they as newbies will easily get carried away by emotions and panic. Then, readiness is also about strategy and also the funds that are secured, this will be one of the considerations for how trading will take place. Oh yeah, for newbies, it would be much better if you try trading on the spot first before entering future trading with leverage.
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you really understand what I’m saying, knowledge is the key having knowledge before taking part in it will always give you bigger probability over it and will give you higher advantage over the market not only the market other aspect of things you found your self in knowledge pays out it only takes time and when you are into trading you will be familiar with the term patience so that what it takes patience and the trend will definitely be your friend.
It is actually a common thing, we must have proper knowledge to achieve something. I just can't imagine if there are people who trade without knowledge. How they know that they will get profits in that way? To trade in the right way, it is needed good knowledge. But we don't only need knowledge, we must also have good mentality. We shouldn't be afraid with the potential losses, we also need to be patient. And we must be smart enough to apply the strategy in trading. This mentality aspect sometimes brings big impact with the success in trading.
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you really understand what I’m saying, knowledge is the key having knowledge before taking part in it will always give you bigger probability over it and will give you higher advantage over the market not only the market other aspect of things you found your self in knowledge pays out it only takes time and when you are into trading you will be familiar with the term patience so that what it takes patience and the trend will definitely be your friend.
It is actually a common thing, we must have proper knowledge to achieve something. I just can't imagine if there are people who trade without knowledge. How they know that they will get profits in that way? To trade in the right way, it is needed good knowledge. But we don't only need knowledge, we must also have good mentality. We shouldn't be afraid with the potential losses, we also need to be patient. And we must be smart enough to apply the strategy in trading. This mentality aspect sometimes brings big impact with the success in trading.
Whoever is trading without a proper knowledge in trading is only gambling and not trading. They are the traders that will lose big to the professional traders. Such people are more in the trading field than professional traders. This is why majority of traders run at loss. Trading is very broad and technical with high risk.
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Whoever is trading without a proper knowledge in trading is only gambling and not trading. They are the traders that will lose big to the professional traders. Such people are more in the trading field than professional traders. This is why majority of traders run at loss. Trading is very broad and technical with high risk.
I clearly understand where OP perspective is coming from but I don't think it's okay to discourage people from trading, there is nothing wrong in holding, in fact it's the best way to easily make money from holding asset but having trading knowledge, there is nothing that beat it because you will be making money holding abf trading at the same time.
It's even more recommended for every trader whether you are expert or beginner to have some money on stock that you are holding while trading so that even when you make mistake in trading, you can have something you can fall back to holding.
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Before trading one need a proper knowledge of it before they start, so that they won't experience much losses. However we all know that as a beginner in trading you must pass through lots of losses. So IMO you need some certain knowledge before you can become a professional trader.
Actually, a beginner in to the crypto space should consider to make investment instead of trading because investment is more safer than trading as you won't need much knowledge before you start buying Bitcoin.
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Before trading one need a proper knowledge of it before they start, so that they won't experience much losses. However we all know that as a beginner in trading you must pass through lots of losses. So IMO you need some certain knowledge before you can become a professional trader.
Actually, a beginner in to the crypto space should consider to make investment instead of trading because investment is more safer than trading as you won't need much knowledge before you start buying Bitcoin.
A beginner needs to learn everything first; it's as simple as that. If you are new in the market, just came to know about Bitcoin and cryptocurrencies, and want to earn money through it, then you will have to learn everything before you get started. I wouldn't recommend even making investments if a person is a complete newbie because you should at least know what product you are investing money in before you do it so that you can rest assured that your money is invested in a good place.
So, the first step after someone gets into cryptocurrencies should be to gain as much knowledge as possible instead of being in a hurry to earn money and starting to make trades and investments right away, without any knowledge about the market, trading practices, and how cryptocurrencies work in general.
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Before trading one need a proper knowledge of it before they start, so that they won't experience much losses. However we all know that as a beginner in trading you must pass through lots of losses. So IMO you need some certain knowledge before you can become a professional trader.
Actually, a beginner in to the crypto space should consider to make investment instead of trading because investment is more safer than trading as you won't need much knowledge before you start buying Bitcoin.
A beginner needs to learn everything first; it's as simple as that. If you are new in the market, just came to know about Bitcoin and cryptocurrencies, and want to earn money through it, then you will have to learn everything before you get started. I wouldn't recommend even making investments if a person is a complete newbie because you should at least know what product you are investing money in before you do it so that you can rest assured that your money is invested in a good place.
So, the first step after someone gets into cryptocurrencies should be to gain as much knowledge as possible instead of being in a hurry to earn money and starting to make trades and investments right away, without any knowledge about the market, trading practices, and how cryptocurrencies work in general.
In trading/investing knowledge alone is not enough for you to be profitable. You need to also practice in the market as a trader because what you read in theory is not the same thing in the market. You have to trade with an amount that you can afford to so that you will have the insight of how the market is. From there, you can come up with your own trading strategy. As for investing in bitcoin, the basic knowledge of bitcoin is enough to start your bitcoin investment, since you are a long-term hodler.
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Before trading one need a proper knowledge of it before they start, so that they won't experience much losses. However we all know that as a beginner in trading you must pass through lots of losses. So IMO you need some certain knowledge before you can become a professional trader.
Actually, a beginner in to the crypto space should consider to make investment instead of trading because investment is more safer than trading as you won't need much knowledge before you start buying Bitcoin.
Trading is not too easy matter. For trading need proper knowledge about trading. Without proper knowledge if anyone want to trade he will be losser and he will lose his valuable fund there has no doubt.
I think for a beginner trading is too much risky, and holding bitcoin is best for them. They can Buy bitcoin following DCA method and then hold Bitcoin. I Think it will be better for beginner.
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I don't know if such topic already exists, but since this is my first thread here on altcointalk forum, I will like to make this as a warning and a reminder to all newbies, don't go into cryptocurrency trading simply because you see someone close to you making profits from trading.
Going into trading without adequate knowledge will increase your chances of losing your money' by 10x because at that stage, you are prone to emotions a d greed, so wait until you increase in knowledge and rank before venturing into trading to safe yourself from possible unrecoverable loses.
I will say for beginners, buying and holding for the very long run is the best option to take. Though the level of confidence is important too, cause the market is always on a fluctuating movement, and without confidence in the market/system, a newbie will end up buying high and selling low, incurring loss to him/herself.
It is okay to get into the crypto industry in any methods, be it emotions, interest or fun, but going into crypto trading by emotions or fun is a very wrong step to take. Cause crypto trading is a real deal, you go in unprepared, you come out empty, if you go in prepared, self-discipline with determine if you'll come out profitably or few profits.
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Before trading one need a proper knowledge of it before they start, so that they won't experience much losses. However we all know that as a beginner in trading you must pass through lots of losses. So IMO you need some certain knowledge before you can become a professional trader.
Actually, a beginner in to the crypto space should consider to make investment instead of trading because investment is more safer than trading as you won't need much knowledge before you start buying Bitcoin.
A beginner needs to learn everything first; it's as simple as that. If you are new in the market, just came to know about Bitcoin and cryptocurrencies, and want to earn money through it, then you will have to learn everything before you get started. I wouldn't recommend even making investments if a person is a complete newbie because you should at least know what product you are investing money in before you do it so that you can rest assured that your money is invested in a good place.
So, the first step after someone gets into cryptocurrencies should be to gain as much knowledge as possible instead of being in a hurry to earn money and starting to make trades and investments right away, without any knowledge about the market, trading practices, and how cryptocurrencies work in general.
You are right about that but when it comes to investment you need to make practice while you learning. And the only way to practice what you are learning about investment is during the process when you buy and hold, so that you can witness the market ups and downs. The reason why the investment part is the safest is because when you buy bitcoin and hold, even though you are losing your capital, you will not lose everything because Bitcoin has potential of high value in future.
Can remember when I tried to make some trade to know if I could make profits but then I lost my capital and, I didn't bother to try again because I lost my capital in less than 5 minutes (so not a good trader :o). Although some folks are making profits from their trading but they have also experienced some losses too.
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It is actually a common thing, we must have proper knowledge to achieve something. I just can't imagine if there are people who trade without knowledge. How they know that they will get profits in that way? To trade in the right way, it is needed good knowledge. But we don't only need knowledge, we must also have good mentality. We shouldn't be afraid with the potential losses, we also need to be patient. And we must be smart enough to apply the strategy in trading. This mentality aspect sometimes brings big impact with the success in trading.
Whoever is trading without a proper knowledge in trading is only gambling and not trading. They are the traders that will lose big to the professional traders. Such people are more in the trading field than professional traders. This is why majority of traders run at loss. Trading is very broad and technical with high risk.
Yes, it's just a kind of gambling, especially relying on luck to get profit. So yes, basically, knowledge is one of the key factors that is very influential in trading, before starting this trading activity, it is indeed mandatory to have proper knowledge. Because this is related to money, and we can't lose our money easily just because there is no basic knowledge about crypto trading. It's very high risk
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The funny thing is it's based on stereotypes how can getting pregnant by a Brazilian translate into the child having football skills, this sounds so funny and at such a subject to be discarded, but then skills are built so for sure if you give the child the basic necessary training to become a professional footballer and under a coach it possible to achieve such growth in the child.
Between that also I believe by now such rumors have ceased to exist since education is taking over illiteracy and people are getting exposed to facts instead of assumptions.
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Before trading one need a proper knowledge of it before they start, so that they won't experience much losses. However we all know that as a beginner in trading you must pass through lots of losses. So IMO you need some certain knowledge before you can become a professional trader.
Actually, a beginner in to the crypto space should consider to make investment instead of trading because investment is more safer than trading as you won't need much knowledge before you start buying Bitcoin.
Trading is not too easy matter. For trading need proper knowledge about trading. Without proper knowledge if anyone want to trade he will be losser and he will lose his valuable fund there has no doubt.
I think for a beginner trading is too much risky, and holding bitcoin is best for them. They can Buy bitcoin following DCA method and then hold Bitcoin. I Think it will be better for beginner.
Cryptocurrency trading is also very risky space in cryptocurrency world. So i am also agree with your best opinion. If we follow in cryptocurrency market, we can see that many traders also losses there profit from trading. Because we know that trading knowledge is also very essential for earn best profit from here. So wr can earn best profit from investment in cryptocurrency market. Wr should do investment in down market, so that we can earn best profit in investment. Because we know that down market is always prefer for an investor.
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Cryptocurrency trading is also very risky space in cryptocurrency world. So i am also agree with your best opinion. If we follow in cryptocurrency market, we can see that many traders also losses there profit from trading. Because we know that trading knowledge is also very essential for earn best profit from here. So wr can earn best profit from investment in cryptocurrency market. Wr should do investment in down market, so that we can earn best profit in investment. Because we know that down market is always prefer for an investor.
Trading surely has a risk. No doubt that most traders may experience losses. However, if they already have proper knowledge, they can deal with the risks and have more chance for profits. Trading isn't something too difficult that we have no chance to get good profits. Trading gives us the chance to get good profits if we have proper knowledge and experience. But we must have good understanding of trading to make good profits. It is important to learn trading when we are newbies, it is because we must have proper knowledge. Trading requires skills, knowledge, and experience.
Anyway, investment is different. When we invest, we must have good patience as well. We may hold for some years before we can take profits.
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If OP wants to hold Bitcoin then that is definitely a good choice, don't hold other altcoins which can become Dump at any time.
My personal strategy for holding Bitcoin is probably like this:
-I work in the real world with income for my daily needs.
-I am on the altcoinstalks forum and get Bitcoin to HodL.
In conclusion, my daily work is to support my life and I am on the altcoinstalks forum to become a Bitcoin HodLer. This is just my simple trick and maybe one day it can also change over time and urgent needs.