What advise would you give a crypto newbie?

[taufik123]

-snip-
Diversification is also a great advice, it minimizes our risk but we also have to do analysis to realize what other coin we should invest in. For example if that coin is directly moving with the price of BTC then when BTC goes down your that coin will go down as well. You can try to diversify out of the crypto space as well like in gold.

Some altcoins such as ETH are recommended to be the same long-term investment as Bitcoin. Seeing how ETH is performing is also beyond doubt.
And some of the top altcoins can also be an option, but choose the ones that really have good development.

For investments outside the crypto space, gold is a Safe Haven asset that will withstand inflation and secure its Value well.
A few percent may be good enough if put into gold.

[Sim_card]

-snip-
Diversification is also a great advice, it minimizes our risk but we also have to do analysis to realize what other coin we should invest in. For example if that coin is directly moving with the price of BTC then when BTC goes down your that coin will go down as well. You can try to diversify out of the crypto space as well like in gold.

Some altcoins such as ETH are recommended to be the same long-term investment as Bitcoin. Seeing how ETH is performing is also beyond doubt.
And some of the top altcoins can also be an option, but choose the ones that really have good development.

For investments outside the crypto space, gold is a Safe Haven asset that will withstand inflation and secure its Value well.
A few percent may be good enough if put into gold.

A newbie should focus more on accumulating bitcoin alone and should not involve himself with altcoins that are centralized. We know that Etherum has being there for quite some time now but due to the kind of project it is, it should not be the focus for newbie. The reason why I said so is because bitcoin has proved itself to be an asset that will last long in the market and the price will also be increasing overtime. Only invest with the amount of money that you can afford to lose.

[Z-tight]

*Invest in bitcoin, than you invest in altcoin. Like having a portfolio of 80% bitcoin, and 20% altcoin

In my honest opinion, it is better to invest in BTC and other assets that's not crypto, i.e. real estate. I know some people are altcoiners, so they cannot do without buying altcoins, so your recommendation is cool for them, altcoins should surely take the lower percentage in your portfolio.

[LogitechMouse]

1. Educate yourself
2. Be updated
3. Diversify your portfolio.

There are many more advice that we can give, but I think these 3 could be a good start for a newbie. I mean the 1st one alone is enough already because a newbie MUST educate themselves first before investing their money.

[Paragon2]

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..

But if you are performing badly in trading then of course you can hold Bitcoin. Success is possible only by holding bitcoins, because if any investor wants to keep his money, holding bitcoins is a must.  When he intends to hold Altcoins he will most likely lose immediately.

[JunaidAzizi]

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..

Maybe this can help. What an newbies should do in the crypto world, and also what not to do. Yes, these tips may not guarantee that you will be safe and 100% successful, but at least they hope they can help you prepare yourself to be better:

Well, you are right. Maybe this will be 100% effective or not, but I think it will create a mindset of what to do or what not to do by comparing the situation with these points. These points are the base and will be very important for a newbie who wants to come to the crypto world. If he ignores it, then the consequences will not be good. Here, the new persons want quick profits, and for that, sometimes they don't read something carefully and sometimes they miss some good news due to overconfidence. I think maybe some newbies see your post but won't read it, and this will be their own mistakes. So, I am adding these points: please be serious and do a detailed overview of anything you are entering..

[Z-tight]

3. Diversify your portfolio.

Like i have already said in this topic, it is great to diversify your portfolio, but it is important to do it right. I don't recommend that after buying BTC, one should buy so many altcoins as diversification, it should be in other unrelated assets, i.e real estate. However, even if you want to include altcoins, just a few, very few.

[UNIVERSE]

Aside from what everyone has said, i would also advise to only invest what you can afford to lose.

Yes, this is a very basic matter in crypto investment. We must use the money that we can afford to lose. Sometimes, there are people who use all their money in crypto investment because they are influenced by the story of successful people in crypto. This shouldn't happen because it may lead to severe losses. Well, I really agree with your suggestion, sir. 

I think I also will advice newbies to not using loan money. I see some of my friends using loan money to buy crypto coins. Even if they use the money to buy Bitcoin, I think it is still too risky. For the safe investment, I believe it is not good to use loan money because it must have the deadline for repayment and loan interest, too. This can lead us to hurry selling the assets.

[Ikenna]

When it comes to risk management, I'd say buy BTC and maybe some of the top altcoins (check Coingecko for the list). The reason is that they are less volatile which means you don't have to worry much about your portfolio dropping to $0 overnight. You should probably read also about the Bitcoin halving or the four year cycle and how it affects the market. It should give you a good idea when to buy and when to sell.

This will surely give us the idea of when bear and bullish cycle come thus we can invest respectively but don't you think its a long term procedure for example currently there is bullish cycle and and to take entry a person have to wait for bear cycle. That make no sense. I say to become hard ass trader a person should have enough caliber to be in stress and be active on internet.

Funds are also necessary along with other educations but I will skip them. I say a mentor would be a nice idea to follow and get more knowledge and expertise. I don't think top altcoins or BTC is lesser volatile because they are highly volatile and you and I can see it by looking at the 48 hour chart. Do I have to fill captcha every time I post?

[jeraldskie11]

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..

Trust the process. You will be having a hard time to become a profitable trader. I believe you will experience losses no matter how disciplined you are that you can keep on following your plan. Journal all your trades, and if you lose, determine what was the mistake. By doing that consistently, you will harvest all the efforts you made since the beginning. And if you are in trading, always make sure to change into Isolated mode and put a stop-loss in every trade.

[bhadz]

It will take time before you become a bad ass trader. IMO, don't aim to be a bad ass trader, I'm not sure what that means to you but just be the profitable one and simple trader. A lowkey that's reliant to himself and his skills that's been developed through the period of time as you trade. Learn all the curves and take every mistake as a lesson that you'll learn for the long run to improve your trades. You don't get to win in trading everyday.

[vegasus]

Maybe this can help. What an newbies should do in the crypto world, and also what not to do. Yes, these tips may not guarantee that you will be safe and 100% successful, but at least they hope they can help you prepare yourself to be better:

.....
I think maybe some newbies see your post but won't read it, and this will be their own mistakes. So, I am adding these points: please be serious and do a detailed overview of anything you are entering..

I think so too. because actually there is a lot of information that we can get both on this forum and in other sources which is truly more complete and informative. But unfortunately, as you said, not all newbies want to read it. even if you read it, it's just a glance and you're not interested in understanding or implementing it. Because indeed, they may only focus on how to get more money in a shorter time, they will be much more interested in learning or doing it.

[Jewan420]

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..

Patience is the key to success. First of all you must be patient to get into crypto. You can invest in top cryptos to avoid risk. Especially crypto currencies like Bitcoin, which are at the top of the cryptocurrency list. There are several other currencies whose value will not drop to $0 overnight. One thing must be kept in mind, if you invest, you must invest for the long term. As a newbie you can gain some knowledge like what is crypto currency? How does crypto work? What is the name of the top cryptocurrency? Gaining this knowledge will reduce dependence on others.

[bounceback]

I think so too. because actually there is a lot of information that we can get both on this forum and in other sources which is truly more complete and informative. But unfortunately, as you said, not all newbies want to read it. even if you read it, it's just a glance and you're not interested in understanding or implementing it. Because indeed, they may only focus on how to get more money in a shorter time, they will be much more interested in learning or doing it.

Must learning everything if want to be success in bitcoin or altcoin trading, its not matter with the beginner or new comer only in cryptocurrency but also experienced trader must read more in forum or in channel giving new information about bitcoin news.
Currently bitcoin going drop and I think if trader read the new information bad news make bitcoin down understood well how to manage well taking much profit entry with lower price without scare how long bad news will run. Need learn more if want become success in trading not only for newbie but also every one as experience or not must learning every day.

[Ikenna]

Patience is the key to success. First of all you must be patient to get into crypto. You can invest in top cryptos to avoid risk. Especially crypto currencies like Bitcoin, which are at the top of the cryptocurrency list. There are several other currencies whose value will not drop to $0 overnight. One thing must be kept in mind, if you invest, you must invest for the long term. As a newbie you can gain some knowledge like what is crypto currency? How does crypto work? What is the name of the top cryptocurrency? Gaining this knowledge will reduce dependence on others.

What do you mean by gaining knowledge will reduce dependence, do you mean on other people so we don't have to take advice from them? Advice is best all the time and following crypto signal groups that are trending in telegram is also best because we can know what the world is predicting about BTC and about other currencies whose value won't be dropping to 0$ which I say is not fully true because all the centralized coins are vulnerable to dropping to $0.

It is necessary to know what the world is thinking in order to outperform it to make a profit and for sure. I learned this thing a long time ago never think you don't need anyone else. You have to observe what most of the experts and normies are talking about BTC. I am not saying to follow them but just observe them.