What advise would you give a crypto newbie?

[sampoerna]

Hi everyone. Pls what advice would you relay to a crypto newbie learning the ropes of risk management and hoping to become a bad ass trader. Excited to hear from y'all..

Seeing your situation reminds me of my early days in cryptocurrency.  Initially I was also a very bad trader and could never make a profit from trading and the main reason was because I was not good at trading analysis.  It was my biggest mistake when I traded without good knowledge of trading analysis.  And if you are doing one thing then I would say take a break from trading and learn trading analysis in the beginning.
But for risk management you can invest in Bitcoin for long term by following the dollar cost averaging method.

It seems that quite a lot of people start a situation in crypto like this. I actually went straight into future trading at the beginning, just because I was very tempted by the abundant wealth and profits that I saw were so easy to get from an acquaintance of mine. and in the end, I decided to follow in his footsteps, but because my abilities were not enough, I even joined the trading signal group.

and do you know what happened? yes, I failed and lost quite a lot of money. and from there, the first thing I understood, I didn't know anything and immediately decided to trade futures, this is very risky. although it can provide a lot of profit, but for newbies, the losses are much higher. while I haven't prepared anything.

that's why, the best thing when becoming a newbie in crypto is:
- Don't decide to trade first, even if trading on the Spot market or with leverage on the future market.
- Learn various things related to crypto first
- If you want to learn by doing, just buy Bitcoin first to teach you various investment experiences, not for daily trading, but for investment, both short term and long term
- make sure you can get experience from the investment, both financially and especially emotionally and mentally prepared to continue the investment.

[Crypto Library]

that's why, the best thing when becoming a newbie in crypto is:
- Don't decide to trade first, even if trading on the Spot market or with leverage on the future market.
- Learn various things related to crypto first
- If you want to learn by doing, just buy Bitcoin first to teach you various investment experiences, not for daily trading, but for investment, both short term and long term
- make sure you can get experience from the investment, both financially and especially emotionally and mentally prepared to continue the investment.

I would like to fully agree with you on this 4 you have mention on your post. About the first suggestion if I tell something most of the people think that learning trading means only invest on trading with their money.
But this is not a reality they can practice on the demo version after while they will bore on it because they don't know how to analysis. They will invest on that real market maybe sometime have some profit and sometime loose all their. And this is mostly happening in the cypto market.  A And for sure about the investment on Bitcoin I would like to say here investing in Bitcoin with the DCA strategy could be the best  option for a beginner.nd this is also through that entering in trading means he is in the whole Crypto world so he must have to have the others important knowledge about the cryptocurrency.

[bitterguy28]

But this is not a reality they can practice on the demo version after while they will bore on it because they don't know how to analysis. They will invest on that real market maybe sometime have some profit and sometime loose all their. And this is mostly happening in the cypto market.

if they start trading in the real market immediately even without properly studying about it trust that they will go back to the learning board again and even try to practice in the demo version after they first lose their money some people think that it is easy to trade because they just follow the buy low sell high but they do not know the real challenge until they see it for themselves

A And for sure about the investment on Bitcoin I would like to say here investing in Bitcoin with the DCA strategy could be the best  option for a beginner.nd this is also through that entering in trading means he is in the whole Crypto world so he must have to have the others important knowledge about the cryptocurrency.

this is the best choice really this way even if they aren't yet officially trading at least they can see and observe how the market moves already and they can see how it affects their money as well

[Dr.Bitcoin_Strange]

Aside from what everyone has said, i would also advise to only invest what you can afford to lose. If you intend to perform short-term trading, you should get used with high volatility, compared with different investment choice.

High Volatility is a general problem for investing in cryptocurrencies, the only advantage that long term investors have is that, their long term perspective and plans helps them to overlook the high volatility that comes with the market, since their target is fixed on the assets long term potential.  So whether short term or long term investors, the risk of High Volatility is present.

[Crypto Library]

if they start trading in the real market immediately even without properly studying about it trust that they will go back to the learning board again and even try to practice in the demo version after they first lose their money some people think that it is easy to trade because they just follow the buy low sell high but they do not know the real challenge until they see it for themselves

To be honest, no matter how much we talk about this, it will still happen in the present and future that new investors will invest without knowing properly about trading and they will suffer losses initially. And in the meantime, those who realize that they have something to learn and then gain some experience and knowledge about trading, they become successful later.
Most of the people doing mistake in the first time this is also a human nature like we all people always priorities the positive like others people doing huge profit from trading.Just like that people thought that they can also  make huge money from investment.

[Aanuoluwatofunmi]

Don't be greedy as a newbie, i know there is a certain period of time some of us may want to start from the big way and have raised expectations towards making it in crypto, which i don't think its a bad idea, but we may only need some patience to get to that stage and start from somewhere by learning the necessary things required of us to know, avoid greed and don't be too desperate in making money.

[armanda90]

Don't be greedy as a newbie, i know there is a certain period of time some of us may want to start from the big way and have raised expectations towards making it in crypto, which i don't think its a bad idea, but we may only need some patience to get to that stage and start from somewhere by learning the necessary things required of us to know, avoid greed and don't be too desperate in making money.

Difficult advice for newbie or new comer in cryptocurrency don't be greedy, most of them come invest or trade in cryptocurrency have huge expectation by small capital but want to earn much profitable and take short term. Its most impossible how talk or advice them realistic take profit based on how much capital use for trading or investing.
Usually if some one keep realistic when trading always set up profitable under 10% and won't huge expectation small capital earn much profitable, most of unexpected profitable earn the newbie try with future trading until trade at meme coins have high risk potential losses their capital.

[Gurujebs]

High Volatility is a general problem for investing in cryptocurrencies, the only advantage that long term investors have is that, their long term perspective and plans helps them to overlook the high volatility that comes with the market, since their target is fixed on the assets long term potential.  So whether short term or long term investors, the risk of High Volatility is present.

I don't think that high volatility is a problem in cryptocurrency, it's an advantage for traders and investors to make money, it's the reason why crypto is unique in its own way, it's because of that volatility we can see 100% increase in price in a day and it's the same reason why market can fall 50% under some hours, that's how crypto market behaves and how it works.

If you are trader that like doing futures, you can explore this volatility and make cool profit but you have to make sure that you use low leverages otherwise your trade will often be liquidated everytime.

[Dr.Bitcoin_Strange]

I don't think that high volatility is a problem in cryptocurrency, it's an advantage for traders and investors to make money, it's the reason why crypto is unique in its own way, it's because of that volatility we can see 100% increase in price in a day and it's the same reason why market can fall 50% under some hours, that's how crypto market behaves and how it works.

If you are trader that like doing futures, you can explore this volatility and make cool profit but you have to make sure that you use low leverages otherwise your trade will often be liquidated everytime.

Trust me volatility can be a blessing and curse, a blessing to those who really do understand the dynamics of the market and know just how to navigate the market, but for those who know very little or nothing about the market, including the traders, the market volatility can be a serious problem. So when I say volatility is a problem, I mean for the short term investors/traders and those who do not really understand the market dynamics.

[Stuart]

Hi everyone. Pls what advice would you relay to a crypto newbie learning the ropes of risk management and hoping to become a bad ass trader. Excited to hear from y'all..

The advise of risk management you ask, can be set to be grouped maybe into 2 parts. As a trader and as an investor. When it comes to trading, the risk management is more complicated than how it may sound. Risk management in trading can range from the entry and exit of a trade and analyzing of the market. Knowing how to use the stop loss and take profit tools when trading is very resourceful.
For an investor, taking the right choice on a profitable asset is very much part of risk management. Holding or investing on Bitcoin and top major altcoins in the market will help mange risk of losses.

As a crypto newbie traders, you need to know the negative effect of greed and fear when trading, cause it can cause havoc to the account of a new crypto trader.
Learn to start with a demo trading account or a low capital start up to gain some experience of crypto market and practical understanding of the candle movement/trading indicators.

Personal development and discipline are also very important as this can help you control your emotions in the market, as the market can make you take some quick and drastic decision, without clear vision of what the result can be.

[Sim_card]

I don't think that high volatility is a problem in cryptocurrency, it's an advantage for traders and investors to make money, it's the reason why crypto is unique in its own way, it's because of that volatility we can see 100% increase in price in a day and it's the same reason why market can fall 50% under some hours, that's how crypto market behaves and how it works.

If you are trader that like doing futures, you can explore this volatility and make cool profit but you have to make sure that you use low leverages otherwise your trade will often be liquidated everytime.

Trust me volatility can be a blessing and curse, a blessing to those who really do understand the dynamics of the market and know just how to navigate the market, but for those who know very little or nothing about the market, including the traders, the market volatility can be a serious problem. So when I say volatility is a problem, I mean for the short term investors/traders and those who do not really understand the market dynamics.

The volatile nature of the crypto market makes it more risky to traders and only few benefits from it why a lot of them run at loss. This is why it's better to be a long-term investor because that's the only way the volatile nature of bitcoin can favor you without stressing yourself. A newbie should focus only on investing for long-term, so that he does not fall in temptation of little profit taking and regret his actions.

[Muneeb22]

Crypto new need to get first the information about the crypto market and after that he will need to start invest their money in this business like a small amount $80 to $100 and in the small value of coins like in the Doge, or in SHIB or in PEPE coin becasue these coins future is very good and soon it will make a very high in 2025.

[Freemind]

Crypto new need to get first the information about the crypto market and after that he will need to start invest their money in this business like a small amount $80 to $100 and in the small value of coins like in the Doge, or in SHIB or in PEPE coin becasue these coins future is very good and soon it will make a very high in 2025.

Do you think that advising a newbie to invest their money in memecoins is the most appropriate thing to do?. That advice seems risky to me, even if the amounts are small as you say, those “small” amounts can be a lot of money for that person. I think the best thing a newbie can do is spend a few months reading and studying the market (it may seem like a long time, but we learn a lot that way) before making a small investment to test how things work. And not precisely to invest in memecoins, but in coins/tokens that are less manipulable than the ones you have mentioned.

[Z-tight]

and in the small value of coins like in the Doge, or in SHIB or in PEPE coin becasue these coins future is very good and soon it will make a very high in 2025.

I don't think it is a good idea for a newbie to start their journey by investing in meme coins, meme coins are usually pump and dump coins and there are so many unsuccessful meme coin projects. I believe it is a better idea for a newbie to start their journey with BTC and then later they can try out altcoins.

[Chilwell]

Hi everyone. Pls what advice would you relay to a crypto newbie learning the ropes of risk management and hoping to become a bad ass trader. Excited to hear from y'all..

As a newbie, it's essential to educate yourself and acquire knowledge on cryptocurrency, including how it works. Cryptocurrency can be volatile, making it risky, which is why knowledge is crucial for managing risk.

Investing in Bitcoin or other secure cryptocurrencies can be a good starting point. However, it's essential to diversify your portfolio by investing in multiple secure cryptocurrencies. This way, if one investment fails, you'll have others to fall back on.

When starting to invest, begin with a small amount of money that you can afford to lose. This approach will help you build confidence and manage risk. Mastering knowledge, risk management, and confidence will enable you to invest with larger capital.

To minimize losses, it's crucial to manage risk effectively. Avoid making emotional decisions, and prevent Fear of Missing Out. Take your time, and make thoughtful decisions.