Bitcoin Forum

A lot of traders out there try to jump into trading and when they lose they get out equally quickly. Instead of all this it is way better to figure things out before jumping in. This is quite doable with proper guide and that’s what I found with this https://www.investmentwatchblog.com/turning-forex-into-a-side-gig-guide-for-beginner-traders/, I believe it is going to be extremely helpful for a lot of traders here.

Are you aware about "PTTP" It means that plan your trade and trade your plan. That acronym is important after all. For us to become profitable trader, we should always plan our trade and we should follow it. We will lose our money if we will just trading without a plan. Planning is the key on order to become prepared in the market. We will not become a successful trader if we are not planning our trades.

I agree that a lot of newbie traders got burned early here because they thought it is a get rich quick scheme. So they just buy or trade without planning and the results are a disaster. But there are smart investors as well, maybe they have the experience before or just used their logical mind to learn first before joining the crypto sphere. So those are the two sets of individuals. And I'm sure those who have lost their money here have learn a valuable lesson and next time they've going to trade will careful planning. It's up to us to choose which path we wanted here.

When we enter trading or anything that includes money and investment we need to do research, study and plans what we should do as it is not a joke to start with. We will put our hard earned money in it so we better plan before entering in it. I have known many who invest and quits easily since they thought crypto is a easy money that they will gain fast, they should change their outlook to really appreciate how it's possible to others to earn even in long run.

You need a trading strategy but also you need to study the charts. Be prepared for volatility and know in advance how to react if the market makes a move in either direction.

It's also essential to keep yourself updated with what's going on in the market. That should always be part of the plan as most of the time, the movement of the market is based on news and upcoming changes. Not saying that actually determines the volatility, but it affects it largely. You have to be flexible and be ready to react and take advantage of the good news and bad news.

Newbies are so very greedy where they thought that they can earn big amount of money in just short time. It is not the reality, there are big risks in trading and all of newbies should be aware of that. Newbies should protect first their capital befor they focus to earn big amount of money. Planning is required before we trade, we can win in a trade if we have plan.

Planning is one of the vital things we need to prepare before we run into a certain business or whatever it is.
What we would like to expect if we don't have this? Of course, you can't expect to have a good result. If we don't have this in trading( particularly) we can't assure that we become profitable on the other hand.

All activity need plan as guide, in this part knowledge, money and risk combine to give us good strategy. The articles is good but need one topic, specially about mindset. This part is really important to start realistic plan become expert. People only focus in strategy and control emotion but forget about mindset. Next time you can include mindset topic in your articles, as newbie we need the right basic to start.

Well, with how the bubble last time made BTC reach 19k or so, A lot of traders and non-traders who know of the existence of the crypto market suddenly entered and BELIEVED they can make a really huge profit. Just like how traders bought at 16k, believing it would actually go up but then suddenly crashed down, then they resold at a low price, non-traders also did this, and they even did it much worse than those traders. It's like they expect the money to flow through their wallets without doing anything or waiting for anything, which lead to them buying high and selling low, losing much money that they have.

Not only beginners but also professional traders are also prone to losses. When we talked about greediness, no one is exempted, all of us are vulnerable and we have nothing to do about it but just to control our own mind and emotions.

Discipline is a must in trading, proper management of money and planning is the best option. Planning is essential for the next step that you will execute in the market.

When we talked about discipline, application is important for you to practice managing your actions and thoughts. In order to have a right planning, technical analysis must be executed in the market for you to know what is the next move you will perform.

Discipline and consistent practices is the most important things to do in trading.
All things about fundamental trading become useless without discipline and consistency, also it's difficult to achieve successful in trading.


It's hard to apply, because the focus will be divided between job and trading. Unless it's remote job.

I think trading is considered as a career for those that are called as "professionals ", those who have plans and built strategy overtime and this is why they stay through it even when their order is going down, they don't exit until they are sure their plan at that time has been swallowed by the market. But those who run out and in for me are not yet traders but they want to make money through trading.

Well, some people think that trading is equal as gambling so they trade without plan or strategy relying on pure luck.
Of course that is completely wrong approach and can only lead to losses that you could have avoided
Before you start to trade it's necessary to define your goals and plan and strategy how to achieve that. We all know that plans sometimes don't go as we wish so recovery strategy is needed too.

I am agree that we need to plan and thank you for the link. But I think aside from planning we need also to apply our knowledge and have continues learning about crypto trading. Because all we know that it is not only a job or even an extra income but we need to consider it as  profession that change our life.

I know people who already quit their job to focus on trading. Maybe they really are good in trading as they chooses more to trade than to expect a regular income. There are pros and cons but all we need is  really to plan and not be too fast in thinking. I'm planning to do it so but will need to set my goals and identify whether it will be sufficient or too risky to do so.

Of course! Everything do really need a plan specially with trading which it isnt really an easy thing when it comes to basic knowledge or we do call basics of the basics then i do go with Babypips.com.

To do trading, we must consider a lot of things. If we are a newbie in cryptocurrency trading, we must read a lot of things that contribute to our knowledge of trading. Today it is not hard to find sources of information on the internet because, by just a single search, there is a lot of information given to us. Trading is an exchange of coins into different coins, and by this kind of process, it can give profit depends on the value of both currency. We must consider too what coin do we need to trade because not all of the coin is suited for short term trading, and not all of the currency is good for long term trading. To make sure all of the activities we are doing is cryptocurrency will benefit us, to make sure those trade also consult with the trading experts to avoid loss of income.

usually in the case of many traders who have lost, so too the experts they also experienced defeat in trading it's just that experts usually take the moment to minimize defeat and can even turn back to victory, this is usually because they have experience like you said that people those who go out after losing are traders who are usually invited by friends to introduce bitcoin to him but do not provide any basis and any knowledge about trading so that he is trapped and then out, but this is great if those who lose learn from the defeat, they will become experts and expert trading like the others, but what you say and write may not be applicable to them, I think without that guide they will become great traders when learning from defeat

Well, that's the basics of the basics. Minimizing your losses and maximizing your profits all stem from planning your set of steps and moves in series of time frame that you have analyzed or researched upon. There's also the pairings and exchanges you would use, as well as possible moves regarding unexpected scenarios that is out of your pre-planned timeline (which you made through analysis). Basics of the basics, but can be also said to be very advanced since even professional traders at times have difficulties managing their planning phases when trading. It isn't more about the guide, but rather the experience of actually failing because of having no plan.

Many beginner traders today are jumping ahead in trading even they don't have enough knowledge on how to manage crypto trading. As a beginner trader, before I consider a lot of things because most of the time I read in the forum and also based on my research, I need to know about trading first because it can give a good idea about the future problems on trading. Next is the choice the best coin depends on your trading technique if it is suitable for short term trading or long term trading. And most important is to trust your self many traders got feared if they see the price of the going falls, and they withdraw all of the coins they invest. Always trust your trades; it is normal that the price fall.

I've seen a lot of beginners who used to trade without using any plan. But I can't blame them since they are just newbies they don't have enough knowledge and experience in this industry that is why it is why giving such articles regarding this matter might be helpful for them to have them aware of the system. Honestly, when I was a newbie also don't use any sort of plan for my trade and it is been tough I admit, but as I get the experience I learn to make a plan for my trade hence I am pretty sure that as they soon got some of it then they will improve their way of trade.

usually panic arises for beginners who are just trading, they quickly make decisions without thinking, but over time they will realize that it is common in crypto, just a matter of time.
I'm also not very good at daily trading, more to hold for a certain period of time.

We have to realize the fact that in Trading, we are also gambling. It is not always the winning part of the trades but also the losing part, too. The only problem for newbies is that they cannot afford to lose the money they tend to trade. Emotions are normal in trading but if we want to be successful in trading, we can control it set aside unhealthy strategies and emotions and continuous learning for improvement.

Not just newbies, but the old traders who have experience in trading needs to make a plan in trading so they can manage their strategy related to the market situations. But not all of them can control themselves in trading, especially if they see that they can make a big profit. Most of them are still waiting for the price to increase higher than the price they saw. But not all of them can make a profit because some of them will have greediness in making more profit, and that can make them lose the profit if they still want to chase more profit.

When panic arrive all of planning can be broken because many people have sell their assets with lower price after hearing bad information about their coin investment, we can keep holding but many other investor can't do it and they try for selling coin assets with lower price although what ever their reason.

Trading is not just about buying at low prices and selling at high prices, trading is more complicated than we imagine. Not to mention
it is impossible for us to trading without losses, sometimes we also have to experience losses. Based on all of that, good trading must
be with careful planning. So we need to plan everything, so we can produce more a lot of profit compared to the losses we experience.
And the first must be able to manage the capital we have, then it must be able to decide on the strategy to be used and the last one
has to make a backup plan. Which is very necessary if the beginning trading plan did not go according to plan.

That kind of fear will always be there once you did your first step.
It is your money and you want it to be secured.

What they need is the courage or being ready to put that money in risk. All investment is a risk. If there is none then it might be a scam.
That is just too good to be true.
There is a winning part and losing side with all the investment and in trading.

I have read it and have not found it to be of any help. I have read over a thousand pages of these basic theories and I do not deny what they say is wrong. I just want to say that this is a special job, reading the theory is not enough, you need to practice while learning the theory. This will make you more experienced instead of just reading the basics for new traders. After 3 months of trading failure, I realized such a truth, we can raise our win rate by psychological leverage and how to control our capital. this is the golden key made me trade better.

Yes, it was. Theories will play some role in trading but it all never work with having that alone. If we'll go into trading, we need to have our own market analysis and not depending on the others. Though we can't escape from suffering losses but on the other hand, this will be a way to make our mistakes right.

actually, these things I have learned for a long time and when I practice, I still make mistakes.  then I no longer believed in these theories, I chose to practice and dep $ 50 to trade with my basic strategies.  then the mistakes made me realize a lot of lessons and then the experience would be made.  I advise you to practice before and when you make mistakes, come to theory and you will have interesting experiences.

Just please do not start trading based on a few articles. Get started with a proper book (research for level and topics that you want to study) and some basic courses. Still dont pay for them when you are starting you, as you will buy worthless reruns on info that is available in the Internet anyway. Do a lot of paper trading and don't invest the money you can't lose :D gl besides of that

thank you in advance, for providing a link guide for traders here, especially beginner traders. well you are right, most beginners are always ambitious to make quick profits, and maintaining crypto trading is easy. and when they started it, there were so many mistakes that they lost their funds. the simple option is to study each trade, or start with small capital or use a trading demo. so that when trading estate, there is no difficulty.

This actually happens mostly on newbies who doesn't know how to minimize their risk when trading. They just enters the market with an intent to buy when someone said so but don't know actually how to sell to make a profit. They just quickly lose some interest when they found out that the price that they wanted doesn't go that way. But instead they just go out while selling their investment at a very low price.

For newbies it would be the best thing to do. Plan it first. Don't go jumping into making orders just because your professional friend told you so.
There are no pros in trading, all of us could lose a lot rather than win.

Don't go wasting efforts from the real traders here. They made so many threads just to warn new people from making any rush decisions.
Better for safety first. It is already a risky field why make it riskier?

of course having a plan before trading is very important to do, and this does not only apply to beginners but for all those who trade in order to always be profitable, of course, must have careful planning in advance

In market you have to find a strategy that set you ahead of all other traders everybody study the same concepts, indicators, strategies and guess what? 80-90 percent of retail lose money. thereby my advice is to know what all traders know and find a way to exploit the common view and be with the market against the retail traders. also It's important to find the strategy and risk appetite to suite your personality and your time. I can tell you it's easier to use the daily timeframe than to use lower timeframes, with daily you can avoid the noise of any news.

Not just we stop in planning but we should have to execute it consistently. It all gonna be useless if never used it for I know that it is also happens in some cases especially when FOMO started and might also lead to change our decision. The big challenge here is how to execute our plans when we are also hard to control our emotions. It all gonna be change once we are shaken especially when we saw prices on and off.

But you know, there are traders who did that "jumping into the trading scene" with only basic knowledge as ammo, experience massive loss on the way but eventually turned into a professional trader.

It's ok to lose, it's ok to experience those things you don't want to happen while doing trades, that's part of the process. Without those losses, a trader will never be a good trader. Sometimes even you are well-prepared before starting doing trades, it will all changed once you are in actual.

What matters here is, people should learn from those mistakes and don't stop if they are really eager to become a better trader in the future.

The right one should be, plan before you trade. You should analyze the whole market to see any possible opportunities that you can grab. Once you see some opportunities then that is when you start to make some plans and do a little back test based on the chart to see if you idea is possible. After all of the analysis and test, you can trade and expect low risk.

Its like going into a business with zero knowledge. You don't trade because your friend is doing well in trading. You don't trade because your neighbor was able to buy a new car because he trade Crypto. If you are already trading, you dont pick those coins that are already lit in green, unless you have a very good reason to continue to buy. Always check and use those tools available online like RSI.

Of course, there should be a plan, and not only a plan. You should also have research when you are in trading. Those technical and fundamental and any kind of analysis you must be applied. Trading is not a simple job and this not a trial and error, you should make sure that in every move you have is accurate and will gain profit. Trading with planning is very appropriate stuff.

Planning is very important in trading, without any assumptions and analysis, it is very hard to make money in trading. In crypto trading, the fluctuation seems to be very high and without any planning, we are going to lose our money by predicting the market perfectly.

Everything is always successful with a clear plan. If you come to this market and invest in it without any planning and knowledge, then you will quickly be empty. Never invest in this market by relying on your and others' predictions. The cryptocurrency market is always volatile day by day so if you have a plan and knowledge about the market then you will quickly make a profit without having to worry about predictions.

Planning for trade is mandatory, for example buy targets & sell targets are belongs to plan. Actually at the beginning, new traders are just think they could get profits easily. But reality is totally different from our thoughts. Most of new traders are losing money due to lack of basic planning and patience as well. Even for me, at the beginning I am not much aware about all the things related trading. There were no planing because no one teach me. Just watch YouTube and try to learn but it's not possible real trading by watching YouTube only. So in a result I lost some fund at beginning but I learn from there.

Before start trading for newbies they should learn whole process as much as possible. I know it's quite hard to learn without loss because everyone isn't lucky same. So best planing and strategy would reduce loss and increase profits. Make targets plan before enter any trade like when your should enter when you should sell and when you should leave even on loss. So likely you can avoid big loss and increase your wining percentage.

As long as people realize the reality of trading is not to get rich quick or be a super wealthy person over night, there will be success.

Trading is something you do constantly to get a small amount of profit and do it constantly for 365 days a year in order to actually reach to a level that is acceptable but not super high. If you actually trade 50 weeks a year for 5 days a week for 8 hours a day and finish the year with 20% that is good, if you finish anything under that is a bit difficult but if you try to finish with 100%+ you will instead lose all your money and not make any.

People do not realize how hard it is to have a 20% average profit every year for years, if you can put a certain amount of money (doesn't have to be a million dollars but should be 100 bucks neither) and trade it with 20% per year then you would leave your child an amazing life after 50 years of doing that. That is what people should aim at but unfortunately they miss that point.

Unfortunately there are newbies who's been hype by people who frequently post their winnings on tradings that's why we can see some of them trying their luck to win some richest out from it. And actually it's really good to realize how struggling to earn 20% yearly but we are on tradings men common we can actually earn that but in proper discipline and if people learns to be patience on the next market move aswell on how to defy their emotions provably a 100% yearly is super possible.

Before trading we can said what we want and how much target profit to earn, after enter with trading and buying some altcoin almost all our planning broken because we get bad thing except what hope before trade, our planning have reschedule because we choose with altcoin have lower price after buying, you can plan what do you want before trading time but your mind is blind when active in trading.

Definitely, we know already how planning seems to have a big role in trading. Quite that simple to think of having plan but I'm not sure if it was executed well. We have only 2 possible results in trading either we win or lose, and to help increase our chances to win is to have a concrete plan in trading.

If it is a long term planning then it will be a total mess. Market is uncertain and so the prices do, making plans on trading for long term would just be an idea of ignorant. Don't make plans as if you can control the market, plan with the amount, timing of trade and particular coin to trade. That is why we have technical side of trading, for us to know what could happen next I think that is better than formulating a plan, just make a TA instead.

How could a basic undertanding of trading be extremely helpful for existing traders? Also I don't think there are many forex traders here as anyone mostly is crypto trader.

We have a saying that if you fail to plan, then you plan to fail, and that is real, if you are don't know your goal, you don't know what you are doing, you don't know your goal or your aim, then you are planning to fail at all.  So, always plan ahead and do something to target it, or else you are losing the opportunity in your life.   

But there is also the fault of other traders to stuck the newbie in trade without training them well. I saw a number of traders who invest in some coins and then they convince other people to invest in that coin and in that they get success when they try to convince the newbie showing their profit in that coin. Many times it happens that these newbies invest in that coin and the result do not come the same as expected.

I developed a trading strategy whereby I put in a buy order but put in several equal buy orders under that on so that I don't have to catch the bottom of the price if it drops. In this situation, if the price drops, I may make several buys depending on how low the price goes.

That is what we need to if the price drops because we can buy the coin at a discount price, so the next thing that we can do is waiting for the price to increase higher. We can sell at once if the price increase higher. We can wait for another time to see if the price will go down in the next hours because that is always happening in the market. Usually, after the price increase higher, it won't need too long to see the price will go down again and adjust to the new price, and perhaps, the price will be staying at that range for a while before it increases again.

The basic skills of trading is the same between forex and cryptocurrency, but i think it has a lot of difference. The fundamental thing about bitcoin tradings is much way different than forex trading, also the technical method of trading bitcoin / cryptocurrency is different. in cryptocurrency trading we could do a really quick trades within a minutes with a decent profits.

It is useful article indeed, but you have to aware that trading crypto and trading forex is really different.

In the forex trade, you'll lose your money when you forget to set cut lose because when the market is going down your money will be burn on it.

But it is different with cryptocurrency AFAIK, you just need hodl for your money when the market is going down and let the price back to the initially price when you start.

Also, cryptocurrency trade is more risky then trading forex, and really advised to use the money that you are willing to lose.

We cannot successfully execute a trade if we do not have a plan. Planning can make our trades to win and avoid losses. We should always plan before we trade in order for us to know what we are doing. An ignorant trader doesn't create a plan before he/she trade and it is the reason why they keep losing. They keep ranting that the trading are hard but in reality it is not if we have a plan because it can help us to face different kind of situations.

Without good schedule planning we can't success by trading in bitcoin and altcoin, before trading we have make plan for reading many update news about why have to buy and invest with some coin, what good and bad news about this coin, we have make planning what support price to buy and when we have sell this coin, without make good planning maybe our trading can be terrible and loss chance to get much profit.

There is a saying 'Plan your trade trade your plan' this seems really easy but it takes every little step and adjustments all pver the time to trade. Also we need to know how to use our emotions not only the trade because whatever oir plan is if we don't know how to control it our trade plan may be ruined. All must ne properly coordinated.

Many people only think of huge profits when they start trading. So they never mentally prepare themselves for the worst conditions for example they immediately fail. Trading clearly requires a good mentality as well as we have information about conditions that are or will occur in the market.

Don't be tricked out of such easy to earned scheme the market is volatile and without knowledge you'll just going to be vanished in a short span of time. Make sure to have good understanding of any investment that you'll going to take you are the one who's in charge with your fate from this industry. Make a good use of the all available resources that you can afford to get.

Nothing is easy in this world any thing if we want to use for making money needs planning so the same thing will be needed in trading and there is no issue according to me spend money with proper planning. As I get my salary then I choose specific part of my income for trading and spare the remaining for my daily needs so I never get worry and trade for long term.

in the beginning traders have no such profit from trading but when they start earning from trading then they need to utilize that earned money, as according to my strategy i have spend very less amount of money which i could afford to loss and after that i used all the money came from trading. The benefit is that if you loss all the money in trading then it will not make you panic thinking that it was my hard earned money. So I suggest you that don't always spend money on trading from some other means, just utilize the money earned from trading.

There’s a lot of articles about trading but still if the new trader didn’t make any effort to know more about trading then he won’t last in this market and its better for them to leave as early as possible than to lose money always, this is just my opinion for the newbies. If you can’t make any effort to learn don’t expect to get big rewards.

The article you share is about Forex Trading which the only tips and advice that can be the same as crypto are that common and general advice.

Forex and Crypto trading do have different environment so the approach is also different. Different strategies vary too.

Whatever people choose to trade, of course always plan our trade and not just will dive into something we don't know and invest money easily.