Bitcoin Forum

I've seen people around me invest thousands of dollar into cryptocurrency trading and end up losing a big chunk of it in a matter of weeks. My advice is, if you are entering a market fresh and haven't done much due diligence you should just put in a $100 to trade with and get used to the market. You can dedicate half a year in getting a feel for the crypto market and measure profits in the form of percentages instead of actual amount. For example, if you've grown that $100 you initially invest in to $110, count your profits as %10 instead of $10. By the end of 6 months when you're proficient in crypto trading and have gained steady percentages week after week. At this point, risk of investing thousands of surplus cash into crypto trading is mitigated as you've already developed a systematic trading strategy and become less vulnerable to FOMO buying and panic selling. Just make sure you have sufficient liquid cash to pay for your own daily living expenses after investing in the crypto markets.

Thank you for such a nice advice.
It is always Important to spread your risks when you are putting your money in at any exchange
For example: if you have a budget of $1000 spread your risks by Put in 50% on each exchange.
50% to Binance , 50% Bittrex. For short term profits the best platform so far is Bitmex. It's important to be aware for the risks of short/long trades on their platform. However you can do your own research for Bitmex signals providers to find a trusted source when doing your daily trading.

You can read more about it here:
https://smartoptions.io/bitmex-signals

Nice post but I'm afraid not that easy and most people will do something really bad more than that. Enter market without knowledge, never practice and using bot will make lost in big value. Last thing is they never have back up fund to recovery asset or to close their daily living. Bad attitude that we should not taken if want to become successful trader, I believe you my friend.

Golden Rule
 
*Don't Bring your Emotion in between Trading  :o
*Never Sell in LOSS 8)
*Follow Market News


If you learn this you will never face loss.

i love rule #1. emotional trading is a great way to go on tilt and lose your shirt. cutting out emotion is easier said than done---after several years of trading, i still occasionally struggle with FOMO or letting losses run.

i hate rule #2. it's extremely important to know when to cut losses. you should always have a clear plan before entering a trade: entry, exit, stop loss. if you don't stop loss, your portfolio can be crushed quite easily. you may eventually get back to break-even by waiting (if you're lucky), but even so, your capital is tied up in a losing trade rather than being put to use elsewhere.

When trading, do not rely on hope and faith that your chosen coin or token will pump.
Accept the fact that you will win some and you will lose some.

yes sir, $ 100 for the Cryptocurrency trading test capital is enough to do a trial on the market, the advice from me is to choose the Cryptocurrency price which is $ 0.001 to $ 0.1, I think the price is suitable for $ 100 capital