As a beginner, stay away from trading and focus more on holding Bitcoin

[Ojima-ojo]

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.

[admin]

As not beginner, it's the same 
you'll buy it will go down, you sell it will go up ... just hodle 

[MrSpasybo]

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.

[snowpega]

<snip>

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.

[Faisal2202]

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.

[vegasus]

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.

[bhadz]

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.

[Baofeng]

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.

[Sim_card]

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.

[Rruchi man]

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.

[MrSpasybo]

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.

[bayu7adi]

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.

[laijsica]

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.

[Lucius]

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?

[nakamura12]

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.