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

[LogitechMouse]

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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.

[Sim_card]

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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.

[|MINER|]

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.

[Gurujebs]

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.

[|MINER|]

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.

[erus]

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.

[|MINER|]

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.

[vegasus]

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.

[PX-Z]

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.

[erus]

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.

[|MINER|]

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.

[erus]

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.

~snip~
 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.

[Celsius]

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.

[|MINER|]

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.

[lepbagong]

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.