Bitcoin Forum

Starting out with cash..? Does journaling truly help ?

Just avoid anything that looks too good to be true (eg get 2x back in 24 hours) is a good start. Also learn to check reviews of stuff that doesn't fall into this category but doesn't look super legit (like exchanges and such)..

Try and store stuff on your own computer too (private keys and the like) with a backup stored securely if you're getting btc.

When trading BTCUSD (https://de.tradingview.com/symbols/BTCUSD/) or whatever crypto/forex pair, I believe journalling can really help. I dont journal entries and exits and long or short and whatever in an excel sheet, but I do journal with screenshots. I put everything on my screenshot that made me take a certain trade.
-What is the trend in my trading Timeframe
-What is the trend in the higer Timeframe
-do we have specific hours/days with an extraordinary performance/volume
-What are my indicators saying and what is my conclusion

if you do this with every trade and review your data at the end of the week / month, you can learn a lot from your own mistakes.

Avoid panicking also avoid coins with lower trading volume and also avoid coins that pumps and dumps so much choose something like Bitcoin, Ethereum also don't be afraid to lose you will learn more about trading soon just don't forget to study and research.

Do you want to trade Bitcoin for fiat/online payment methods or you wanna trade Bitcoin for altcoins?
Those are two completely different types of Bitcoin trading.
What do you mean by "journaling"?Do you wanna write down your past trades on a piece of paper or a Google Sheet?I don't think this really helps for improving your trading skills.
The first thing you should do is to find good tutorials and books about trading and consume as much as educational content as possible.

experience in trading in crypto may obviously be different from what is done everyday, I agree with our colleague above that to learn a tutorial is needed and whatever form it is questioning about trading.
actually there are also many other alternatives that can be done, for example by direct practice with the smallest nominal so that when there is an error it is not too burdensome for you, but that way we immediately know how and are not easily forgotten.

Avoid being too greedy and being too optimistic. It's not that bad to be optimistic but for newbies, having it too much gives them an idea that they can make tons of money overnight which leads them to invest in scam coins. They're gullible to believe whenever they meet people that are saying they can quadruple their money or more if they invest for that certain coin that's being advertised by someone that they've just met through crypto groups.

what needs to be considered is as much as possible to control emotions when prices are falling. and indeed this is the world of cryptocurrency growth and decline is a must. and of course you have to know where your money will be invested.

Avoid rushing your Trades. Always trade after you make a chart. Always wait for confirmation before putting a trade for safety purposes. Don't trade with a high leverage. Don't put all of your capital in just one trade. If you lose a trade, don't expect to gain back your losses quickly, that'll just make things worst, take it easy always. Don't be greedy, always set a target price or profit every single day.

Don't trade if you're mad or frustrated. Always remember what I've mentioned.

First of all you need to gather knowledge about trading. Gathering knowledge about Crypto market, coin and volatility of coin. Don't be greedy. Chose good coin for trading. Don't expect much profit in a single day.

Keep logs of your trades is a good habit, IMO. You can go a bit further and do analysis on your previous trades to determine how you normally respond to market movements and judge if that yields a better or worse result.

Just asking the question wont help if you dont try it yourself. Most users I have seen started doing it for a couple of weeks and then moved away with statements like "too boring" "so much work, so little profit" - trading is not a get-rich-quick scheme, it takes time to learn and apply and still you will end up making mistakes.

Still if you are not willing to work that hard, you could just buy at low and sell at high. Now the words low and high are relative and this needs a bit of insight from your side as to what is a good price to buy for you. My eye-catching low would be under 8k USD and anything beyond 20k USD would be high, if I am being greedy. ;D

You can choose your own levels but keep a track of buys and sells because often one does not follow the other - you might find yourself buying many times because price will dropping and then having to hold all those positions for long time before being able to sell them.

I initially suggest you to start trading Bitcoin / Altcoin if you are a beginner, I think that is less risky than trading against the dollar, avoid using your emotions in trading and also avoid panic selling, many beginners make this mistake when they see Bitcoin start to drop dramatically as It happened several days ago so now they are crying about their losses, you have to learn patience in trading.
Of course there is a lot to learn but self experience is the best teacher.

Beginners should avoid short term trading with any coin (not just bitcoin). The safest and the most conservative method for you is to buy bitcoin at the bottom low value and hold it towards peak value. This takes a rather long time but your profit is guaranteed and losses are minimal.

Many things that beginners should avoid, and you already know by reading from the other members. But in trading, you should not panic, greedy, use all-in of your money, will be the things that you must avoid. If you can learn more about the basic things of trading, you will know by yourself what you should avoid in trading. Do not chase a bigger profit if you can not do that because that market will not always increase, and you should prepare for the downtrend.

Don't join signals group.

It was a common mistake of most newbies believe that there are groups that can actually read the market and they can take advantage of it. But the sad truth, these newbies are the victims of these groups taking advantage of their innocence.

As a beginner, you should avoid a risky trade instead you need to make a ladderize trade where you will slowly increase the amount of trade if you think that you are getting more and more familiar to it.

Avoid being a greedy to profit, most of the begginers are in hurry to earn their profit that leads them to lossing their money in the midst or even in the beginning of their journey in trading. Learn the basics first and be wise in using your cash, if it is possible divide your trading currencies to more than one so you can avoid a heavy loss if in case you choose a bad currency to trade.

I'd suggest doing some research about what you are going to invest in(Bitcoin in this case). Maybe watch a few videos and understand what it is about and why it has gathered so much attention. Only invest if you truly believe that Bitcoin is the future and has a ton of upsides. Only then you will be able to handle the up and down swings without much panic. I see a lot of new investors just simply throw money at it, in hopes that BTC will go up all the time..and when that doesn't happen, they start panic selling. That truly doesnt help anyone. If you have any doubts or questions regarding BTC or crypto.. just start a discussion on this forum. Im sure a lot of us would be happy to help. Make sure you do check out beginners and help section (https://bitcointalk.org/index.php?board=39.0).

Regarding what to avoid,

There are a ton of self proclaimed "gurus" / "experts" on twitter and other forms of social media.. Try to avoid them. Most of the ones here are HODLers and are used to the downswing. We know that on the long run, there are a lot more upsides than downwards. So, do not panic. Keep tabs of your trades and invest in a personal wallet. Remember "not your keys, not your bitcoin". If you are not trading regularly and HODLing, Transfer your funds to your personal wallet.

Yes journaling  helps but only if you are religious about it and write it daily. The quality really doesn't matters because with time you will start to realize what you should write. But there is one thing don't get in with too much cash. Bring in only that amount which you can afford to lose and initially start with 10-20% of it. Start by maintaining a daily risk ratio this is the maximum risk you will take each day. Now make sure you don't freakout in FOMO and FUD. Have patience in your trading and remember an losing an opportunity is much better than losing your capital.

Keeping  track with your trades is really better compared on not to tallying up at all because you wont really have any basis on what are the things that you had done
on a certain market condition. This will really involved lots of trial and error.

Its true that this isnt a fast and rich quick scheme on where some people do believe on when it comes to trading.They believe that this is something that can really be achieved or done
easily but when you are on the actual situation then you'll surely realize on how hard it is.

Avoid on being greedy and follow due process on learning things up and dont rush.

If you are a newbie, you should avoid using capital from borrowed money when trading Bitcoin. Don't because you see Bitcoin's extraordinary
performance, then you are very sure that you will make a profit from Bitcoin and decide you want to use capital from a bank loan. You have to
remember that the price of Bitcoin is very volatile, so it could be that suddenly the Bitcoin price falls very deep. So my advice for newbies when
starting to trade Bitcoin, use it from a small capital. If you have started to be able to analyze Bitcoin movements well, start increasing your
capital gradually.

I agree with this. Those too-good-to-be-true ROIs are really not legit as they are just screwing naive users. They are victimizing those newcomers with attractive packages and returns. And when it comes to exchanges, better trust a known one like Binance, before venturing to never-heard exchanges. You can start familiarizing yourself with top exchanges. And then, once you get the good grasp, you can check other exchanges.

Here are what I fae and also consider as a beginner in trading:
- Don't spend your all funds to buy only one coin
- Don't follow the hype, moreover on the new coin that is listed in exchange newly.
- Don't buy shitcoins, buy only top coins
- Don't expect too high first at the profits, everything needs profits, but consider and be ready for the risks of losing.
- Don't use all funds to buy at once, better to see the market condition at first
- Don't be lazy to learn and learn

Assuming you stopped at just avoiding short term trades with bitcoin, that I would had agreed to and considered a perfect advice but you saying same strategy should be deployed with other coins, that's a suicide mission that'll must likely end you bankrupt. Altcoins naturally are to be short when the profits comes in.

No doubt some specific project does very well long term but majority are always advisable you take out profit when ever that opportunity presents itself. Lets flash back to few months ago when the whole community was been disturb with defi madness, you cashing out that moment would had made you more profit than waiting to cash out my now.

The whole hype has died off or slowly dying and soon we might have shit dead coin all over the market just as the 2017 bullrun produced countless amount of worthless coins.

Coming from the traditional stock market background a newbie in the crypto market may be less informed about the degree to which scamming occurs in this sector. The nature of it being unregulated only opens up many more avenues of scams to such an extent that only bitcoin becomes the legitimate thing ever.

In true sense, you can buy a shitcoin and pump it up to sell but bigger whales out there who are never going to come to this forum, are out there and they will burn out any new fry before they can make their profit. So if you want to play it safe, go with bitcoin, keep track of your buys and sells and follow up with gradually increasing your assets.

Use any exchange that you feel comfortable with, does not need to be the biggest one out there.

I was about to this when I stumble across a similar post. I was a newbie trader and some tutorials made me cocky that I think that I can get the money back when I do some loans. Hopefully, that post made me realize and reflect on the actions I should take before going in because no one will definitely save me when shit hits the fan. Best advice that I have learned about is to have a safety net to prevent the possibility of spending the funds that I will be using for trading for daily needs and stuff.

The simple concepts like that are said constantly because those are the things newbies make the most mistakes about. I have seen a lot of my friends who jumped into bitcoin with all the money they have saved aside for example, thankfully bitcoin kept going up, and they are happy about it but it might have crashed too.

I have 3 friends who put up total of 50 thousand dollars between them and bought bitcoin when it was 24k, I warned them not to because it was already too height and it could have crashed, but it went to 40k instead, they still haven't sold but they mock me who have been in bitcoin for 7 years about being wrong, they do not realize how dangerous what they did was. In short people do make mistakes when they are new and they could even get lucky and make some profit but that doesn't mean what they did was wrong and dangerous.

I have always thought that people focus too much on earning money when in reality as a newbie you should train yourself first about how not to lose money, first of all learn of all the most common scams that you can find in the market, things like bitcoin doublers, HYIPs low market cap coins, coins claiming to be the next bitcoin, youtubers and other social media users giving you advice, pump and dump schemes, trading signals, gambling systems and all kind of ways scammers use to try to get to your money, do this and you will be on the right track to begin your journey as a trade or investor in this market.

Trading is those who have time to track their investments, unlike stock trading. We can just wait when we need to take advantage of the time they are popular when the company we invested with has news or development in crypto because after that it may not set new high price, always monitor and never be greedy in trading.

First of all of course is avoid entering the market without having any prior knowledge about it. Try to control your emotions especially not being greedy because that would pretty much ruin everything and to be honest, that happens a lot when I was a newbie. Don't also expect for quick profit because there's no such thing like that. Avoid taking seriously others TA, as much as possible make your own cause you know what works you better. Avoid using all of your money, invest only the money you can afford to lose, don't panic about unnecessary circumstances cause that won't change anything just calm down and think wisely. Don't buy shitcoins as much as possible invest on top listed coins where volume is high.

As a beginner there are lots of things to put in consideration and there are lot's of things you have to avoid. First of all you don't have to be greedy when trading, you also have to learn how to control your emotions when trading, don't always fomo, always use your stop loss but I think that one is optional, always make sure you make your own research before buying any coin, avoid coins with low volume and always know when to exit the market. I think this are something you have to know as a beginner but you can still do more research.

Avoid trading without enough knowledge. One of the most common mistakes of new traders these days is that they're fighting a battle without enough weapon which is enough information about the advantages and risks of cryptocurrency trading. There are still lots of things to learn about trading from its terms to technical strategies. Proper handling and control of our emotions are also important. You'll encounter lots of analysis and predictions but some of those aren't real so you better learn how to deal with the possible changes in the market so you won't always rely on other's opinions.

Knowing these is one thing, being capable of doing them are another, I would say you definitely know it right and you should follow these very carefully, but it will be a lot harder when you are in a tough situation with it. I am not saying you will fail, there are so many great traders and investors who started as newbies like you and became great, you could definitely become one of them, there are so much more people who knew but failed because they got excited about it as well so try to not be like them.

Also work on DCA a lot, there is always merit into that because if you can do DCA properly and keep buying consistently for long period of years? That is going to end up allowing you to retire without any problem at all, that is the type of thing you should be focusing on and not just how to buy low and sell high since that would be too quick.

-Start with your own cash and don't rely on loans, cause trading won't give you 100% to gain profit.
-If we are talking on BTC only and not other coins, Always plan out your play (your way in and way out)
-Don't be greedy, keep in mind that 20% is still an income.
-Avoid getting jealous if you sell too early, cause it is part of your plan, and you generate profit so its all good.

Loans for investment for retail investors are so bad, I wouldn't even take that scenario even though the probability of profit is high. always buy what you can afford, never push yourself. Crypto is very volatile, so you have to have goals and also set targets to gain profit (don't lose momentum and opportunities to gain profit)

Don't trade with big funds if you don't have many trading skills because that can lead you to spend more money than you can afford. You need to control yourself in trading, don't be greedy to take profits, and know yourself. Don't just follow signal trading from other groups before you analyze more to find if that signal can be trust or not. Controlling yourself will help you avoid panic when the market moves out of your expectation, so you can adjust your strategy and act based on market situations.

I believe that you need to avoid many other things as a beginner in trading, not just trading bitcoin, but it is also trading altcoin, stock, and else. The important thing is you can learn more trading and know-how to control yourself.

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There is only one thing that you need to avoid from trading
* never accept an offer from someone you don't know.

Because if you think it deeply, you can ask them why they should help you at first in which they can do it by themselves and make a good sum of returns. Definitely, they are using you for their benefits, not for you in return.

Don't get disturbed by these offerings, it will harm you only. Make a focus on your job, keep learning and should makes decision wisely.

Journaling will help you monitor your trading and you will see what price you already enter and exit and how much money you already used.
You can also know what strategy you can do due to the current market, and you can see if there is an opportunity for you to increase your profit based on the market situations.
Maybe you can get another hidden sign from your trading, such as trend, the pattern of the price moves, to help you analyze deeper to find the good time to trade.
It could also improve your skills in analyzing the market, and you know when to enter and exit the market.

In leverage trading it is common to take a loan out and use that to bet on the side that is going up and thus gain a possibly 20x gain and then repay the loan with interest and still have a huge profit to reap on. But you are correct that this could possibly go really bad and there a debt-spiral can and will happen with time for the ones who are getting addicted to this type of gambling.

Definitely as a beginner dont take part in margin trading. Learn about trading first, try dummy trading>go for spot trading before anything else.

Also risk management should be able to teach a newbie about these things. The point where they fall into these "traps" is when a newbie goes to youtube and searches for how to make easy money by trading. People promoting their referral links to make money make clickbait videos targeting these users only.

One of the most common errors traders make while dealing with cryptos is the fear of missing out (FOMO) and FUD. These two variables lead them, out of feelings, uncertainly excitement and doubt, to take decisions.

Another common factor which causes traders to take wrong positions is impatience. Every other minute, traders keep checking the prices and end up making wrong decisions.

Not diversifying is another mistake that is common. People spend all their money on a single coin, so when prices fall, they lose big. Investing in more than one coin, which means diversifying, is a better alternative here.

In addition to these other mistakes, the pump and dump scheme, revenge trading, reluctance to thoroughly study the situation, blindly following the crowd etc.

Journaling really helps a lot.
Before choosing any coins to invest, it’s better to do a background research on it.
Moreover it would be even better if you choose to start with small amount at first.
Lastly as a beginner you need to just avoid one thing, and that is greed.
Don’t be greedy. Start with small amount and make small amounts at first.

Don't allow your emotions control you. Because once you did, you will certainly get panic, worry, which is not good to be feel by
the individual traders like us here in crypto space. And always be patience, know how to analyze, and have a self-discipline, and
always stick to your plan dude.

Yes indeed, start tracking all your transactions in and out. Even though I've been in this industry for a long period of time, still I am doing Journaling there's no wrong with that, I just want to see my progress if I am doing great or getting to much losses it will also keep you motivated and organized. For me it is highly recommended to beginners and also to those people who are not have a high margin like me, but I think even though I will be having a large asset soon, I will still do that.

For beginners, the most important thing is to analyze the market trend and follow the crypto-related news. Start from small investment and learn to trade. Do not go for leverage trading as it might look very promising and by chance, you can get some profit but in the end, you might end up losing your investment.

Never give money to someone for them to use in their trading but it's fine to pay them if they provide teachings or tutorials we know for a fact that we benefitted from their teachings and that we really learn. Actually it's better to ask for tutorials like handson or 1 on 1 that by just watching. Sometimes those we don't know can give us better understanding than those we know but there's a price to be paid, just be careful to anyone we deal with.

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Journals help a little, what helps more is when you go into the market to trade directly. The situation is very different when we consume a lot of journals
learning with direct action in the market. In trading it may be more difficult to compare with investment. Trading as it is today when bitcoin is  sideways,
it  should  also  be  extra  careful. Indeed  many  traders  take advantage of  the  situation  when  bitcoin is  sideways, but  perhaps  because  they  are
experienced and expert.

Isn't being influenced by market conditions a good thing, I mean if what is popular among the people then the hype could translate into a growth. I do understand a little about when to buy and when to sell but for me the thing that I most avoid is putting a lot of money at the start, in my opinion, testing the waters is a good thing for a newbie trader, this can help you get some experience about many things such wins, losses and break evens, and it can also serve as a way for you to decide whether you want to go into deeper waters because trading is an unforgiving thing to do especially for those who jump right in.

I agree, also they should choose an exchange where they can trade comfortably or has a good credibility. I settle for exchanges that has a decent number of trading volume like with these pairs in case you're curious about the real numbers:

https://trade.kucoin.com/BTC-USDT
https://trade.kucoin.com/ETH-BTC

I don't get influenced by others opinion though, I use what works for me instead of just taking everyone's opinion. Beginners should learn how to see the industry in their own perspective, not based on what the others say about it. It's over when you buy high and sell low  ;D

Learning on your own isn't so bad at all and some of us traders do learn from that kind of way but I'm sure there are some aspiring traders or currently traders that have a mentor that they follow, Following the exchange of their mentors use, trading pairs, and even following the signals. I think it's not that bad as we think it is that the foundation that the apprentice has come from his mentor. Once we get used to trading, Exploring exchange would be much easier, and they're a chance to switch exchange because of the comfortability that the newly explored exchange gives.

Unfortunately those two terms became famous because of that same reason, because people did those mistakes over and over and over again. I personally feel like I never got involved with any FUD or FOMO but I am not even sure anymore.

I got involved with crypto during the 2013 FOMO period, so I could say I took part in that and lost a small amount of money, but I was smart enough to not invest a lot, I invested only 50 bucks, now I look back on it and say I wish I got involved with all the money I had but I know I would have probably panic sold all my coins when it went down, or even if I managed to hold it for a while, I would have sold it when it went over 1400 dollars.

FUD and FOMO are two things every trader has done at least once, it is not really something easy and that is why we are going to keep seeing more and more people do the same mistake over and over again.

Patience and keeps working with your knowledge, no need to rush anything out as being new to this industry will make you more
prone in losing your money.
Try to go deeper and keep studying all the fundamentals, all those that influence the market as it will helps you along the way in
reaching your success., there's no limitation as long as you are willing to move forward and handle the risk.

For beginners and first timers on the field of trading, better avoid engaging while you still have nothing to know about what you are suppose to do. Better educate yourself for you will be dealing with risks in order to trade and make your money grow. Better be aware that your purpose is to gain despite of the risks associated upon doing trading. You are trading your money and not doing it like you are gambling to just depend on luck that your instinct about how things will go be favorable to you. Be educated to the extent that you can deal on possible circumstances that might get into your way for once you cannot handle those, it may get into frustrations which can also affect your trading capability. Learn to analyze and observe the market for you are going to work with it the rest of your life in trading so better see to it that you are understanding it.

I think patience is important in any type of trading and most investors back out on patience after doing a couple of trades before realizing they made a mistake.

There are two things incorrectly understood by investors. One of which is putting money in altcoins means more profit and another is that they trust every new project coming up to be the next bitcoin - because hey, nobody can buy bitcoin because it is so costly why not spend you coins on that new shitcoin? This problem gets fixed if the trades ignore any altcoin put out there and buys bitcoin in small amounts at every dump and sell at every pump.

As for the beginners this would be an advice that I have seen come out to be true from watching the markets for the last few years.

Journaling? You mean doing your research? That will help you for sure. And I think you should be careful and avoid all these fake wallets and exchanges, if you would want to stay on the safer side then go for the exchanges that are well known, because they are not going to disappoint you like new exchanges. They too can have their downsides, but they are not like the new exchanges that can run out of money someday and run away with your money, so it’s best to avoid those ones and go for the bigger exchanges.

You can find success in trading if you are good in research; for that you need to be ready for continuous learning. You must need to update yourself against latest world political things as they are the biggest factors to move the markets ups and downs.

He do talks about journaling so it would be just the same as taking notes or writing it.Well, this isnt really a bad idea though because writing off things will really be able to help you
into your future trades since you do able to take up some note then you do have at least the chance to sneak back in case you are needing something.
Going back when im still a noob i do really have this kind of behavior.

One of the most common mistake is that we do easily panics when we do see our trading account is going negative which would lead into another mistake
when you do make out decisions that are already out into your own plan.

Avoid on getting hooked with some fud and fomo because these things are commonly can be seen into this market so better watch out.

I'm going to share some mistake I made when I was very new in trading and hopefully you can learn from it. Firstly avoid taking or following signals that are being given in some telegram groups. These are coordinated signals that use you as a bait. Always have  a target and don't be gullible. Don't forget to use stop loss. It is very important particularly when the market crash. Avoid trading platform that will not warn you in case you mistakenly type and order which is not favourable. Lastly you can make sure to go for platform that have high liquidity and active traders

It probably does if you're able to write down the ups and downs so you can review them, as I'm sure a few years on you will forget. Journaling is only useful if you can take notes that you can learn from. Also, not putting your heart into it or in other words not getting attached to a coin would be really useful - just look at the numbers and let them speak.

These are the most important first steps, newbie traders worry too much about the money they can make in the markets as if they never consider the possibility of losing money, which is way more likely by the way, newbies first need to learn the bare basics of this market which are to store your coins by yourself, and if you want to trade your coins in a centralized exchange then look for reviews here in the forum and not in social media as social media is full of bots and paid users that speak positively about exchanges that are nothing but a scam.

And finally they need to use their common sense, offers like doubling your coins in 24 hours are everywhere but once you begin to think about it you realize it does not make much sense for those offers to exist at all except as scams.

I suggest trading with real money only when you have gotten acquainted to the market and it's components even if it's just basic information, it's a necessity. It's also worth pointing out that trading is a skill to be learned so you have to spend time to learn not just technical analysis and how to use it but you also need to learn about market psychology and how it works on a fundamental level.

The market isn't running away. So take your time to learn it correctly and be patient with yourself. You don't have to start trading immediately. There's always money to be made

That only it stops there. Having them for a week or a month in teaching is I think enough for us to know, we can also learn a lot more if we keep engaging in actual trading. Besides, there are a lot of online tutorials where we can see on YouTube freely in which we never need to spend money, In fact, this is a tool helping me to trade. I know it is only the basic things they show but it was enough for me. This helping us also to avoid any unnecessary messages receive from an unknown person.

Stay out of the market if your sentiments overrun your trading knowledge because being emotional can get you into trouble in this highly volatile market.You need to be calm and trade according to your research and analysis.The coin in which you want to trade must be potential coin in the market to have growth opportunities and you must monitor it's regular movement and understand the swing of market with the latest news of the market that will eventually have price effect.Be a keen observer and learn from your mistakes and don't afraid to loose because it's the part of race.Stay away from scammers and phissy schemes that will make you rich overnight as they are making billionaire every second so don't trust them at all.Rest market will tech you more than enough if you want to be part of it.

Especially, avoid excitement and go slow. Look before you leap. Because it is a very serious and experimental platform for beginners if you want to succeed. Avoid scams and increase awareness.

Avoiding scam is hard for beginners.

They are the ones that's very prone to the scam projects out there. What they need is to be educated and always ask in the community or to the people that's better than them.

It's fine to ask questions and be guided if they allow to.

It hard for beginners to avoid scams but when we are talking about trading the beginners are not dealing with a scammer but the market itself and what I believe they need is not to fear the market volatility so they can have the self-confidence to put their knowledge to work.
With that been said, the other thing I believe a beginner to avoid is to invest in a single coin, panic sell, emotionally trading, invest in hype base coin, and not having an exit plan.

Yes, you mentioned some good points. Scam is now everywhere, we have to choose the right one from our experience which can't always possible my the beginners and that's why scammers get some hype by them. Sometimes it's also hard to find out by us too. Your suggestions should be obeyed by the beginners to avoid scam.

One of the most important thing you need to avoid when you're trading Bitcoin (https://trade.kucoin.com/BTC-USDT) or any crypto is "Peer Pressure". Not marching to the beat of your own drum is one of the beginner mistakes every crypto trader should avoid. By the time enough people know about something for you to feel pressured to get involved it's already too late, the tipping point has already been reached. Sure, you may be able to ride a high for a few days or even a few weeks, but it's a good sign a bubble's about to burst when the people in your life who know nothing about crypto are talking to you about crypto.

Well, that is a big mistake, not a common mistake.
As a beginner in trading, you should have your own research so that you can obtain knowledge and skills on how to have a good strategy in trading. Never start in trading if you are not ready, sounds like cheating if you will listen to others advice, following pump and dump groups. You will never grow up if that is how you will start trading. However, you will consider also that the experience is the best teacher in trading.

You're right.

But just as they're trading, they would with the crowd and that suggests platform where to trade. And one possible case that can happen is them trading a scam coin in Uniswap.

I think that's rare or not, maybe, and possible to happen.

As I said earlier, beginners traders need to put their knowledge and self-confidence to work. The uniswap casa is another subject cause uniswap is not a good portal for crypto trading but it good for exchanging due to some scam that are listed on there. However, uniswap is also good for lending reserves aka liquidity pools where people provide money (in crypto) for uniswap pools and some earn interest.

The things that you need to avoid when you are a beginner in trading bitcoin and cryptocurrency is not doing your research, not following the advice of experienced traders, not teaching yourself to learn the market movements and trading tools, and not controlling your emotions. No one is born as a professional trader, so don't be afraid to lose a small amount of money in your first trial. It's much better to take every chance than to lose it.

Better to experienced those loses for good as it will guide you to assess your next plans, don't be afraid risking your money as long

as you are using spare amount of money, never to use funds that you are not willing to forget it will affects your emotion, there are

many fluctuations that will harmed your investment better to prepare yourself.

On decentralized exchanges, including Uniswap, there are a lot of coins that have the same name, but all of them will be scams, except for one. It is very easy to avoid buying fraud on DEX when searching for a coin to trade using a contract. The contract of the original coin can be found on Ccoinmarketcap.

The aspect that involve following professional traders advice should be done wisely as not all that pose as a professional traders online are actually what they say they're. Most of them that are actually trading are just speculating and not predicting the market from reading the charts. The advice should be strictly trade related, chart analyzing and all.

Don't divert into coins to trade or ones good for holding because they're every possiblity the moment the conversation start going towards that area they (the professional traders) will start shilling their project to you for trading (investing). Keep it professional, know what you want to get the information then go work on it to prefect/better it and use it as a blueprint for your own strategy.

I'm only telling a real situation that's truly happening for beginners.

It could be a mistake of beginners at the start as they trade but if they have an idea how to check, they won't be a victim of those scam coins.

Firstly, try to analyze the market. Don't enter without proper knowledge about trading. Secondly, don't try to make 2x/3x profit at a time. For choosing pair, try to choice strong and popular pair.

Something to avoid is not to buy just wanting a quick profit and usually that can happen if you just follow the trend or go fomo, in the past I was often caught in this situation and ended up just a loss. I have experienced this kind of at least a few times because I don't really pay attention to the movement of the chart, so I don't make decisions at the right time. So, try to learn the movements, because being aware of what you are buying will allow you to avoid mistakes at the start.

2x? You wont even get close to 10% profit and that itself is huge when trading bitcoin, thats like 0.10% gains. Of course Altcoins will show such 2% or more gains in which case you should just sell and dump all your have and exit them when you have the opportunity. Because if you dont, you will regret it for a long time since all altcoins are like that only. They will rise for no reason and they be so low priced that they get delisted.

Working hard in real life might actually give you a better daily income. :D

You suggesting people to put their head in a freezer? ::) Dont post without any context. Every trader out there is working hard but it ends up being a factor of skills and luck too.

Remember if you are short-trading, avoid being greedy too much. In addition, even if you have the power to initiate your trades, DO NOT forget to remain 10% of your profits overtime. Imagine, you just set aside let's say around 100$/week, by the time you retire, you would be able to enjoy those winnings in the LONG-TERM.

In short, don't be afraid to cash out your profits. Even if garnering a profit in trading may be relatively difficult, avoid being greedy and as soon as you profit, decide on whether to cash it out or not. Be ready, however, you will be facing lots of mistakes and learnings along the way.

How can a beginner understand everything while the fact there is for sure they will only got limited information and mostly the one they receive is came from the hype and the one typically mistake they made is they buy at FOMO state  which many newbies got trapped and lost their money so to avoid any of this they should know on when to buy and when to exit also they need to know when to cut loss since from this they can react according the the movement of the market and earn with this.

The desire to make profit, your advise is right.

Many beginners are thinking if they can just make 2x+ profits, they're already good. But in reality, it's quite hard to achieve especially if your capital isn't that much.

Try to aim in percentages.

Start like 5%, 10% and so on. I think that will work in process for those achievers.

Absolutely! I start to make a journal now to monitor my trades, and to help me to make my trading plan into reality, and by result I am slowly learn to minimize my losses and it helps me to follow my trading plan. This plan is my December future trading journal, but I pause for awhile because I got busy with my job. This is not so big gains and margin but what I am saying is, journal can help, especially for beginner like me.

https://i.ibb.co/ySQL1ct/futures.png (https://ibb.co/ySQL1ct)


PS: Don't mind that PLE it is PNL, also I am just still learning.

As a beginner here in Bitcoin trading, you don't need to stay in your monitor to find out if you earn or not.
Probably, just check it 3 to 5x in a day. Then, every time you open it be observant, analyze the movement in the chart
graph, check the higher bidder and Buyers so that you can able to see if you are earnings or not something like that.

100 dollars per month until you retire is not enough money, but 100 dollars into bitcoin until you retire would make a huge difference, people should know their difference as well. If you invest 100 dollars into your bank account that would be 1200 dollars in one year, 12000 dollars in 10 years and 36000 dollars in 30 years which should be enough for you to retire unless you are a teenager, even in 50 years it is only 60000 dollars.

However if you invest that into bitcoin, and maybe a bit of altcoins as well, that could do 10x in 30 years and in 30 years you would have 360k instead of 36k that would be huge difference. Is it enough to retire? Depends on where you live but definitely good enough to live a decent life without ever working again even if you do not get interest rate from it.

Beginners should be taking care of some projects.

There are a lot of cryptocurrencies that go around and these new investors and traders should be taking care of those projects that seem too good to be true. I know that some of us are so desperate to earn, especially at this pandemic but you might fall into the trap of these scammers that won't just hurt but also would start your doubt about cryptocurrencies.

Personally, I started my first BTC trade without using my personal funds. Yes, it so happened that I have been working through the Internet for a long time and was able to earn some capital, as they say, without investing personal funds. Of course it was not easy and not so fast, but it worked out and I know for sure that I can take risks as I use the funds that I earned. As for newbies, I would recommend doing the same as me, as it would swallow them to gain experience and understand the value of money. On the other hand, you can go the other way, for example, use personal funds, but then a beginner needs to understand that he needs to use funds that he does not mind losing, because his first steps in trading BTC will also be difficult and he will have to gain experience before he will start earning, not losing.

The biggest thing that almost all noobs do is getting involved without realizing why. That's correct, they always go in and they think they are going to profit and the thing they buy will go up because someone on telegram said "this project with have this awesome thing on the 27th and after that price will skyrocket!!" and they buy and wait for 27th and nothing happens.

They do not understand "why" coins go up, they just eat up whatever everyone else says. The reality is that we do have a lot of great things in the crypto world, and they do go up, so when things go up that means newbies go check it out and see why it went up and learn the difference between why others didn't go up and why this one did. If you can study the behaviors of the market and how people react to changes, you could learn which ones are empty promises and which ones are real.

Well that's true, he should check his trade regularly so that he will not be missed anything and he will learn to monitor and manage his losses, he will learn how to use stop loss and trailing stop loss soon. And as he waits for his order to be filled or waiting for his coins to have an action he can read some essential books and pdf to widen his knowledge and help him to decide the next thing, if he will continue to hold it or it is time to sell.

If you are a beginner in the world of Bitcoin trading, you can avoid using large capital. Because you have to get used to trading using
small capital first, if you have successfully traded with a small capital. Then trading using large capital can definitely use it well,
because if you immediately use large capital when trading will only make you lose your capital, later there you will be afraid to try
to trade Bitcoin again.

Starting to learn all of the trading strategy is a good way when someone has intention to start trading crypto. No metter how much capital that you spend it doesn't matter. Even, you can use $10 to start and got around $5 per days if you already know the chacteristic bitcoin price movement.

As for strategy that I use when I was start (actualy I still using this strategy until now) I learn the technical analyst first, there are so many book about technical analyst. And second, I only use some media social like twitter and other crypto currency as a banchmark to buy and sell my investment.

Start with small one so you can easily monitor your progress, learn to make a journal it is the best thing that you may actually do when you are new in trading and that is the most common advice of everyone that spent years in trading. Journal will help you to have a trading plan to prevent massive losses and help you to have self discipline in trading in which much needed for us to not be taken away by greediness. Emotional management is very much in need too.

As a apprentice, you ought to maintain a strategic distance from a hazardous exchange instep you wish to form a ladderize exchange where you may slowly increment the sum of exchange in case you think that you just are getting increasingly commonplace to it. Avoid being a greedy to benefit, most of the begginers are in rush to win their benefit that leads them to lossing their cash within the middle or indeed within the beginning of their travel in exchanging. Learn the nuts and bolts to begin with and be astute in utilizing your cash, in the event that it is conceivable partition your exchanging monetary standards to more than one so you'll be able dodge a overwhelming misfortune on the off chance that in case you select a terrible cash to exchange.

Rid of any emotion. Trust me, you'll regret every single tiny bit of your decision if you let your emotions get into you. That happened to me back then when I was still day trading.
Fear is common, because you're risking, OP.
Trading tools are there to aid you. One I remember that I use was Bollinger band.
DO NOT invest if the money is needed. Just invest something you don't mind losing. Don't focus on getting into full-time because you're still gonna test the waters just yet.

It is your other enemy.

Once you're too emotional with your trades, you'll be missing the discipline because you're only going to rely on your feelings and not on your plans and analyses.

Very bad since the effects always kills your decision making, lots of emotions brings you to fear each market movements, when bull shows up your fear of exiting in early stage leading you to lose the opportunities.

While in bear, you'll sell right away thinking that things will lead you to lose most of your funds forgetting that there's always corrections that taking place each time the market experienced bull season.

You need to control your emotion well, it will help out to avoid making regret mistakes, and it will lead
you to a much successful venture inside this investment.

By journaling, you mean doing research to learn the things that you don’t know about? Yes that can really help you, it’s something that you should be doing on a steady. Then don’t be like all these newbies that will start trading and they will go to be making use of some exchanges that nobody knows about, it’s best to just go for popular exchanges, do your research and look for the popular, there is Binance, there is Coinbase, Kraken, Huobi and the rest of them that are popular, just compare them and know which will be better for you, then start making use of it.

Don’t go and start looking for some exchanges that comes out of nowhere and promising you heaven and Earth, because that’s how you can lose money. And don’t look for people who claim to be giving free signals or whatsoever, because they are scammers. Learn and do it for yourself.

^ Probably journaling that he meant is that to have a gameplan, it is the way to monitor the market and record the previous history that will probably repeat itself in the future. If that is what OP means, it really has great help to him, and stick to the plan will most likely always get a profit because you can able to control your emotion. If you have a plan you will have an idea of when the exit point, when to take profit, and when you leave the market. There are too many advantages to be made if you have journaling everything the decision you have.

I think if you could keep track of everything, it would probably help, or at least it probably can't hurt so you could do it and if it doesn't help it doesn't help and it can't really hurt which is a no-loss situation. I have tried it before, interestingly I wanted to push myself a bit harder and try to be better by writing it on online places as well, which meant that when I shared my reasoning and which coins will go up and which ones will go down, that meant that I had a chance to be humiliated by people who saw it, and I could be wrong and they would mock me.

So, I had to really work hard and find correct things not just because it was me making money, it was also about me getting mocked by other people if I am wrong. So at the end of the day I happened to just let it go because it was too much pressure and I wasn't as relax as I wanted to.

That really happens.

It brings anxiety and making you decide in a quick time but later on, you have to regret what you've done. Luckily, for those who have experience with the bear markets. It did help us to have long patience and anticipation of the market's recovery.

Just control it and make a wise decision everytime you trade, beginners or not.

Controlling your emotions is really easy to say, but really hard to execute when in the moment. I personally recommend taking a deep breather when in the moment as this will clear your mind, and make you start thinking somehow rational when in the situation. This will always help, even not in trading. Also, keep in track with your plan, as this will suggest the best possible move you can do when in the situation.

Thus, if we really have this problem, it could be better to step out in trading because honestly, this is not the right place for us. You can't avoid this as a human being and much more if we are too desperate to make money. Everything will be rejected once caught by emotions. 

emotion + stress = losses

It is certainly out of our mind and can't decide so well.

Not jumping on different trades randomly without any knowledge about TA or the coin/token's fundamental helps, you should always buy/trade something that you will be willing to hold for a long time if needed, so it means you should stay of shitcoins that you believe have no real future which are like 95% of the market.

If you do just that, at least if a trade was not successful and it kept going down in price you will have a chance of recovering from the loss and getting back your money and maybe more if you wait long enough, since it's a project with great fundamental, if you're not willing to wait that long it probably means that you're risking more than you can afford to lose which you shouldn't do since market can crash literally anytime and you could be easily left out with 30-40% loss at least in short-term.

In general, we don't have to try trading if we don't have backup knowledge about this. Not just only we are risking but we are pushing our self to lose instantly.

And to avoid such a thing, we don't need to rush, it should be in a process and that it takes long as expected. Remember, there is no shortcut in trading and that we need to be patient learning, taking a risk every day, listen to others, but most important is, we have to think many times before making a decision.

1. avoid pump and dump group.
2. any tweets or statement from crypto influencers is not for financial advice but edutainment purpose.
3. set a target, and don't be greed.
4. don't use all of your money, and always do budgeting.
5. trading journal might be helpful for some people ---> https://www.finextra.com/blogposting/12877/everything-you-need-to-know-about-getting-a-trading-journal

I used to believe the same until the recent tweets from Elon Musk shook the crypto market and pumped the dogecoin quite literally within days and weeks. I used to read these tweets in my leisure times and never took them seriously because that is the kind of image Mcafee created in the market because he was taking money and promoting shit coins/token.

I think with time now more and more influencers are coming into bitcoins like recently mrbeast, the famous youtuber, got into bitcoins and bought a big amount if I read the news right. With time that image McAfee created will change but yeah don't trust just anyone promoting coins and tokens out there, I agree.

Just don't get swept up by the hype and don't be swayed by FUD, that's the two of the most important things to avoid when trading Bitcoin or any crypto and most importantly, aside from those two, don't sell based on your emotion. Once you've entered a position, you should exit that position based on whichever strategy you have in place. If you hold a crypto (ex. BTC (https://trade.kucoin.com/BTC-USDT), ETH (https://trade.kucoin.com/ETH-BTC) or LTC (https://trade.kucoin.com/LTC-BTC)) and these crypto falls in value, you must evaluate the situation first before selling your holdings and yes, journaling really helps.

This is true as a newbie never listen by hearsays and avoid such fuds when planning to invest. The most mistakes also by many is being rule by emotions. As a beginner when trading Bitcoin to always dyor before investing and journaling is a big help in trading. Plan when to buy and when to sell and always take on profit when happy.

This is not only happening to a newbie, it can also be happening to some of us. Emotion drives us no good but this helps us to commit mistakes and wrong decisions.
That is why, if we should be seriously doing trading and aiming for a positive result, we should have to work on it and eliminate this emotion. Mistakes can't be avoided, as we know that but it could be minimal.

Being a trader in beginning there are parcels of things to put in thought and there are lot's of things you've got to avoid.Initially you do not need to be ravenous when exchanging, you moreover ought to learn how to control your feelings when exchanging, do not continuously fomo, continuously utilize your halt misfortune but I think that one is discretionary, continuously make beyond any doubt you make your own inquire about some time recently buying any coin, maintain a strategic distance from coins with moo volume and continuously know when to exit the showcase. I think this are something you have got to know as a apprentice but you'll still do more research.

Journal learning through books or online learning such as tutorials on YouTube about crypto trading it can help. But it can not completely make
you become an expert in trading. Experience and action are a good move to trade. The most basic  thing in trading  is to buy at a  cheap  price
and sell at a high price, and should always be able to beat emotions when trading.

If even you don't have backup knowledge then it might work but you have to be very precise and accurate then. I believe most of the traders don't go all-in during each trade so loss can be recovered easily if you just relax and focus on the process more than the performance.

Remember to always learn when you lose and you will be good next time but the problem starts when you are not just losing money but also learning nothing from that mistake. Making the same mistake again and again and expecting different results will never help you out.

I have seen some traders even maintaining a record of their mistakes just to make sure they know what mistakes they are making. A small example can be like never investing into ICOs because they are mostly scam. Its ok to lose money once in ICOs but if you are losing again and again in different projects that means you are not learning anything and obsessed with ICOs and quick money.

You can avoid investing in an unknown token unless there is a bull market like this time. Right now you really don't know which coin will suddenly just jump up instantly and then the price could be $0.10 while the price back in 2018 is $0.00001 there's a very big difference when there is a bull market. As a beginner, it would need a very long read to learn which are the good projects but just by looking at the ranks on coinmarketcap, it can already give you an idea of which one to buy.

First thing to do is to avoid to register on pishing sites or links you are going to open with your computer because sometimes it generates codes which can hack your personal system in the future. Also avoid several strangers that may contact you through DM, it's obvious a scam. There are lot of things to be avoided as a newbie. It is better to seek advice from those who you trusted crypto users or traders.

A good advice because indeed one of the reasons why newbies lose money is even before starting to trade. That includes the false confidence that enthusiastic traders have and end up on phishing sites being blinded. Wallet software and how to protect from scammers is something that every cryptocurrency user needs to know and apply in order to be able to protect their coins.

Rankings are good but true potential is not determined by ranking always. Of course Bitcoin is the biggest one out there so everyone should aim to buy some bitcoin if not a lot.

But the wrong move here is often buying altcoins that have been floating in the market just because they dont have enough liquid money to purchase bitcoin in significant amount. In the shoes of a newbie this seems appropriate to buy some altcoins but experienced traders know the curse that befalls any trader buying shitcoins - the endless cycle of despair because no altcoin is going to be next to bitcoin. Short term profits are possible though.

Yeah right, as a beginner, we also have to have the ability and know how to trade it. So that we are not easily deceived by parties - parties who are not responsible or are deceptive. If a beginner is equipped with even a little knowledge about trading, he will know how to trade properly and choose the right broker to invest his funds. At least beginners must have and know the following:

1. Have Knowledge About Trading & Can Analyze Market

We must have at least some knowledge about the trades to be made. Find out first information on how to trade properly, what are the advantages and disadvantages and of course what risks we will get. And the most important thing is knowledge in analyzing the market. Analyzing is necessary so that we can see with certainty market movements. As we know the stock market always moves up and down. By analyzing, we can see whether the stock price will go up or down in the next period. If it is analyzed that the price will go down, there we can make a decision whether the trading will continue or we cut losses so that there is no greater loss. There are 2 types of analysis used, namely, fundamental analysis and technical analysis. By using these two analyzes, we can better read market movements. From here we can also learn about what a good company or broker is. With sufficient knowledge, we will know what is genuine, which is deceptive.

2. Own Capital & Starting From Small Nominal

To start trading, of course, we need capital. And we must have good money management in its management. Stock trading has a high risk in its application. If we cannot analyze market movements properly, there is a possibility that we could lose the capital we invested there. Because it's good if we are still beginners in trading, the capital used is not too large. Usually, each broker has a minimum capital that must be deposited. So, at least we can use the capital according to the minimum deposit given by the broker where we trade stocks. With a small capital at the beginning, think of it as our first try in trading. We can see first how the performance, the way of transactions and the risks we will face in the future. If we are able to face the market with good analysis and get consistent profits, we may try to trade with large capital. At least with this small capital, if we experience losses or fail in trading, this will not really affect our financial condition. If we go straight with a large capital and it turns out that our trading failed, it will only bankrupt and lose all the capital we have.

Let me tell you something mate about what to do things for a beginner in bitcoin trading.
It is a good start if any newbies will not start with greediness they won't succeed for sure in the end.
But if they're not and begin with learning the idea and skills here I can guarantee you that you will
succeed and earn well here in cryptocurrency business industry.

Fomo, Hype. Lust. Emotions. That is the key for you to apply. because often if we already understand technically, but in the course of our loss due to this error, you better prepare this in case of a price drop or pump panic. and also this desire is often a problem because sometimes when the decline or increase in a short period of time people tend to trade using their passions

That is the issue, on the surface it may seem incredibly easy to simply control your emotions but when the market is crashing or going up a lot it is difficult to control you especially if the market is going against your prediction, because that is precisely when your emotions are tested and unfortunately most people fail to control them, take a decision based on them and then they lose their money, quite honestly I do not know of a way to train to control your emotions other than to have a very clear system and then follow it regardless of what you see happening on the market.

For those traders who seems to be unable to control emotions when the market is being tested, they should stop trading because it is simply not for them. Only those who can remain nonchalant even in a bear market and know where to buy and sell will be able to survive for long in this market.

Most people who do, actually have a a faith in bitcoin and they know even if it goes down, it will go back up soon. They will not panic sell or FOMO.

Beginners often might go into the wrong direction that is why I suggest them not to start with hard cash immediately but go with dummy trading and see how they are able to manage their capital.

Here are something you need to avoid as a beginner when trading with bitcoin:
• Fear : If you want to go far in profit making in your business don't trade with fear because fear has led many traders to zero level in profit making. Try to avoid fear when trading with bitcoin because those that trade with fear hard them to achieve anything good from their trade.
• Dump: Always carry out your personal research to know if truly the price will dump more than that before purchasing that particular coins that will help you to achieve something good in your trade.
•  Fake information: there are fake information all over the social media which can lead anyone to trade with wrong people in the market. Try to avoid any fake information for you to go far in your trade .
• Bad project: As a trader who want to become a professional in the future must avoid bad project that look like original project that can reduce any trader at anytime in the market.

The cryptocurrency markets have become very popular among private investors as the potential for high returns is higher than in any other asset class available today. However, cryptocurrencies are also a very risky investment.To help you get started without making many of the most common newbie mistakes, in this article, you will find the ten bitcoin trading mistakes beginners need to avoid.

Ignore panic sells.
Because many times new traders sell their tokens while the price dumps. But its a wrong decision Because gradually the price goes up then the traders regret.
So its better to strong hold and avoid panic sell.
It’s  a first step to trading profession.
Be aware of this kind of situation. Stop selling in losses.

To trade bitcoin you first need to know the market the place to invest should be well analyzed. Otherwise you will lose everything later in the risk don't panic, no matter where you invest you have to wait patiently bitcoin's price rises on the basis that it is not a stable currency you have to control your emotions and move forward with faith don't be disappointed if the price goes down. It will cause a lot of losses whatever the situation hold on and the price will go up bitcoin is the best currency to invest in crypto.

What must be avoided, as a beginner's cryto, is, don't trust too much websites that are fake and illegal, in my opinion ,,,, 😊😊

Avoid being contented in what you know. Always seek further knowledge. READ AND READ AND READ. Don't stop reading books and articles about trading as this will make you grow as a trader.

Make a concrete strategy, a system that will work each time you participate with

any trades that you take, being contented with small gains and keep rinsing from

time to time is far better than losing your money just because of greed inside you.

Instead of taking your profits, trying to seek for more leads you to risk out your

funds, it's very important to stay with your system most of the time you'll enjoy

the outcome.

If you are aware that the existence of that website is fake and illegal, you won't really be dwelling on it.

And if you do not know how to determine them, DYOR is what you need to do.

Before you send any penny to any site, of course, you need to check first its legitimacy. Like for example, there are too many fake MEW or uniswap sites. So before using any of them, double-check or triple-check if it is the official website you are into. Also, if you are a beginner, don't believe anything that is offered to you especially in social media channels, where strangers keep on popping up sending you unsolicited pms. I have had experiences with that in the telegram channel, posing as official reps of the exchange and offering their help. 

Risk management is the most important part of crypto trading because crypto is much more volatile than anything else that we have used so far, this is why I believe we need to make sure that we do not take too much big risks, if we do that it could end up with a bad result.

However we should not be insisting on stuff neither, I did one mistake like that, believed in a project to be great and invested on it and the more it dropped the more I bought dropping my average and I could have profited in long term according to my belief but it has not recovered that much, not even during this bull period, it still need to do a 2x in order for me to recover my investment, finally I got out.

So, while dropping the risks, we should also remember that even though crypto in general is a profitable thing, there are times when it is not profitable and we should get out.

There are newbies that don't do legit test and check before they deposit.

That's why you'll see some newbies creating new accounts and asking if the website that they've found accidentally is legit or not. And the worse case is that they've already deposited to those websites that they've just asked.

• Fake information: Try to avoid fake information on social media when trading bitcoin for you to be able to achieve something good from your trade.
• Public research: Don't  depend on public research when trading your coins, it will not help you to achieve something good from your investment. Try to carry out your personal research for you to know the right time to trade and make a good profit from your trade.
• Risk : Don't avoid risk when trading your coins because in any risk you face will determine your profit you will earn at the end of the investment.

But beginners often see from the profits and also the sharp increase so that they dare to invest in trading but do not know how to control it has often made them mistakes so that many suffer losses due to their carelessness.

We often see the market recovering and it indicates the market is stable, but we also have to pay attention to how conditions occur. Sometimes small corrections also beginners often experience panic and it results in them selling lower than what had been planned.

But that's how beginners often don't want to learn more deeply, even though these mistakes can bring us more to know what happens afterwards.

Not only books and articles.

There are insightful threads where good analysts share their thoughts about the market. That's having with chart analysis that you can read and you'll learn somehow what it looks like for them to read the charts.

Many of those are in speculation board.

As a beginner then you shoud.

-Study all the basics and try to familiarize
-Dont be greedy
-Dont chase up losses and trying perfect trades
-Dont get Fomo'ed and Fud
-Stick with your plan and always prepare back ups
-Learn from mistakes
-Good fund management

Sounds simple? but these are things you would really be needing to sustain this market.
This will take time, so patience would really be tested out.

Yeah, managing the risks and analyzing how much risk you are taking for what kind of reward is important. The Crypto market is already volatile and if you invest in even risky projects then it might be not worth it despite some of the projects paying off because most of the time promises will never be materialized into anything real.

I would for a new trader there are lots of things to be avoided like others have said: Greed, Panic, etc but I would say when you are new to trading what you need to avoid the most is being "rigid". You have to understand and correct your mistakes by using features like stop-loss at times and if you are not flexible with your trades you will suffer a lot. Also don't be too greedy, if you are getting 5-10% profit from a coin whose future is not secure better to cash it off than to wait for more.

This is probably the first thing I learned as well, not because I wasn't checking the address but because I didn't checked the minimum withdrawal beforehand.

First thing I have ever done in crypto was gambling, and the casino I wanted to play had a 0.01 btc withdrawal for their minimum (that was like 1-2 dollars) but I got some money from faucets that was like 50 cents or something and I wanted to gamble with that and I won some money but I couldn't reach the minimum so I had to gamble more to reach there but I lost it until I reached it, if I was careful enough and knew that I can't withdraw under 0.01 btc, that would mean I would basically keep my money and wouldn't be forcing myself to gamble more. In any case, people do learn this one way or another, it may take a mistake or two but everyone learns about checking before depositing eventually.

Cant really say a yes or no to that. Beginners are learning so they will make mistakes and that will cost them money. But in case they are a beginner to crypto but a veteran in speculative assets - these people have a higher chance of not doing these mistakes.

Many crypto traders have been previous stock market traders too so that has given them some experience on market manipulation even though it is crazy manipulation in crypto.

However for a complete beginner, mounting losses one after the other, they will end up broke with time and not be able to sustain for long. That is the time they should stop for sometime and focus on other things. In the meantime they can get a better insight in what they were doing wrong. That might be productive if they wish to try trading again.

You can not Start trade without cash. First you need to some money for buying alt coin. What need avoid for new trader i think first need to avoid thinking high profit. First you need to day trade and nake small profit. Need to avoid buying coin that market volume is very low.

Good thoughts.

Many of the newbies would think about earning a lot from their very first trades. But the concern shouldn't be that because the beginning is always the time that they should familiarize trading.

And through thinking it, that will give them the idea that it's not just an overnight riches as they trade.

At certain points in your trading, you should have the fear though because fearless trading without understanding the risks can be sort of gambling where you are just being overconfident with the decisions you made and ready to lose money but not sell some assets for a minor loss.

It is the most challenging thing to do actually and I have done all kinds of analysis and research but still some ICOs were able to fool me until I completely stopped investing in ICOs.

That is a very good point actually because a lot of FUD is spread all over the internet and similarly there is hype and FOMO created at times, avoid them all and at any cost, I agree.

I would say avoid taking the risk and don't invest in any ICO and rather wait for the exchange listing at the very least and once the coin has a decent market cap you may invest some.

Ignore? That's actually the hardest thing to do actually.
Not that one could even ignore his/her own natural emotion.
Panic selling are common now, especially back when BTC plummeted down to <4k.
It was a deep and sharp plunge for its price. There were many panic sellers that time, and I wonder where they're now actually.

This is totally true,  a lot of people will tell you to control your emotions but it is easy to do that, I admit that as well.

Anytime the market goes against me I get worried, and my worries are that the market can go down and then take years to go up, you just can’t tell, that can be when you invest during a bullish market like this and when it reaches the highest point and it crashes there will be no way that you’re going to be able to recover the money, for long the money will be at a very low point until there is another year for a bullish market. That’s the fear of most people, they definitely know that it will go up, but the question is when?

The first thing to take into consideration is any money brought to trading should be considered a lost one until you're able to take profit from it. Reason it is advisable to use only spare money and don't ever borrow to trade bitcoin or any altcoin. It is always dangerous.

Trading with spare money is more like gambling with spare money. If you are a serious trader then I don't know why there is any hesitancy to invest some money because you must be serious about it. Any business you do requires some kind of risk to be taken and the same goes with trading. I agree that initially don't invest too much because you are in the learning phase for a couple of months in starting and being the crypto market so volatile, it can be nasty if you deposit big and lose it.

The only suggestion I would give to new traders is that, don't come with huge ambitions into trading and keep an attitude to learn because trading is like education where you need to have a humble and learning attitude and like you cannot score good marks without proper preparation and knowledge, similarly you cannot earn money in trading without good knowledge and understanding of the market.

We should not considered it as a lost money but more as an investment, if we treat-it as lost money we may not have any determination to make it grow since we accepted it as a lost. I prefer to think of it as a way to make it grew by trading in it and studying how to make it grew. It will also help me to be determine to treat it well to study more trading to avoid any losses. We should be positive to attract the good timing to earn more in trading.

From the last 6 mounts, beginner can start from any point of market of BTC as BTC now in best position and day by day its going up. As a beginner must have to keep patience in mind so that in down market they can stand for one or two week or even one month. Once upon a time BTC market crush was so high and there beginner got big problem  but now condition changed and just carry patience for rest batter days.

The answer is no one knows, that's why most people knew  also that the market is very unpredictable, this is the main reason why most of the community here in cryptocurrency industry can't tell the exact date and time also the precise price amount could it be. The thing. We can always give is always based in our own opinion or speculations.

I never really understood people who talk about the market like it can be predicted. I have seen people who say that they know what the market will do, and I have seen people who ask others what market will do, when those two find each other that is always a very upsetting end and the consequences are always at least one of them losing money, even if not in short term it is like that in the long term. This is why I think it is quite obvious that we are living in a world where people can fool each other using their emotions as weapons.

I personally never believed that bitcoin could be predicted, none of the coins could be, and that is why I never trusted anyone who said they "know" what it can do. I know it can be a million dollars and it can be a dollar, I know both of them seem quite impossible these days but the point here is the fact that it is going to be ANY price between those levels, anyone that gets more specific ends up risking it.

Analyzing only BTC chart will help you to pointed out what will the next move in the market. Some cryptocurrency depends on how BTC reacts but some are independent depending on the news and other thing that can affect the project. Creating a journal will help you determine when you make mistakes and when you have good entry and exits, technical analysis is not always right and I think fundamental analysis is still the best way to determine if the price action will go up. Beginners needs to be patience and learn to be contented even the profit is small (profit is profit).

Not just patience, OP has to also be strong and doesn't get easily riled up by emotions to the point that you are selling your bitcoin because you are panicking. Journals based on the testimony of my friends can help you and also try to log all of your entries in trading to check your progress.

Never make decisions when you're emotional, because the consequences will damage the portfolio that you have. As a newbie trader, try to take your time to learn all the elements contained in cryptocurrency. The crypto market can be said to be more difficult than traditional assets and stocks, due to high volatility and the risks involved, so it takes proper planning and execution in order to make a profit.

Emotions make you feel that you are a human but that something we have to put some limitations especially when we are in trading. That is pretty hard and controlling our emotions is not so easy. However, as we pursue becoming a trader, a successful trader then we should have to focus on it. I know it won't work so fast but gradually we can do it, only we have to think that this could never give us help to make a profit but instead, this could help us to make losses.

As a beginner in trading, you're actually prone to making quite a lot of mistakes. One of the commonest mistakes is falling for scams. Avoid anything that is too good to be true. Nobody would give you free money so avoid any schemes that promises to give you free money or coin.
Secondly, avoid trading with your emotions. It is very easy to allow fear and greed affect your judgment in mankind trading decisions. Once you start trading with your emotions, you're on way to losing it all.
Thirdly, avoid not using the stop-loss. No matter how good you are, never ignore the stop-loss. That's actually one way to lower the risks of losing all

While you may think that other people have great suggestions (remember they do not have your best interest at heart) you must always think for yourself and do not be led by their judgement - people can have a stake in whatever they say.

About Panic - Do not panic, always do your DD and then decide for yourself.

Do not follow the herd, be your own shepherd.

To do this you must have the knowledge and skills, so before entering into any market make sure you have some info about how the exchange works, what are order

books, what trading volume is, stop orders etc. Get the knowledge, then put that into practice, and be pragmatic at all times.

I can't say anything that hasn't been said already. I just wanted to add that you should continue to learn, learn and learn and don't forget to practice everything you learn on a live chart even if you don't end up taking the trade, you should keep track of it and see how well your analysis fared. Beginners are often quick for the easy way out instead of taking time to put in the work. Since the market is always moving, it's a wise decision to constantly update everything you know and try it these challenges.  Also don't be too reliant on trading signals. It's better to learn how to fish instead of being spoon fed.

1. Never be greedy
2. Always follow plans and always set out back up plans if things doesn't turn out to be well
3. Proper capital management
4. Don't get affected with fud and shills
5. Emotion control
6. Don't chase up to be profitable or chase up losses to break even.

Basic things but actually hard to be applied on someones situation but these things is a must.

You should avoid lots of things. Like

1. Avoid panic sell.
2. Avoid margin trading
3. Avoid greediness
4. Avoid holding after your target reached
5. Avoid investing depending  on someone else gossips
6. Avoid panic buy also. Identify the resistance line and support line

Basic things but very important as a beginner. Panic selling is really the number one problem on some beginner because as a beginner they can be easily drawn by thier emotions and when the price of the coin that they hold is down they cant hold it and sell it quick, more of the beginner has a weak hands, so i agree on that avoid panic selling this was very important.

For the newbie like you, I think the only thing I could say is never get easily hype with others sweet words coming from the team in the telegram channels, if ever you are planning to invest into a new projects here in crypto space. Then, don't push yourself in a hurry to earn quickly, even we know that we need to earn instead, be patience and observe everything here especially for the mistakes of others they've done wrong here in this field of business industry.

I tried trading and yes do not let your emotions drive you. It will not give you any good result. So much disappointments and losses are the things I received. Being too emotional will also makes you greedy. For me, when you your life to be involve in crypto, that will be a never ending learning process, we that have lot of experience still seeks for tutorials and tips, so as a beginner do not be too lazy to read and watch tutorials. It will be your new best friend.

Yes, we're in a train that gives us a continuous approach in learning.

Some may be experts from their own perspective but they're also like us that gives this outlook to keep learning upon mistakes that we've committed.

Learn to manage your emotion and don't put much pressure on yourself and trades.

There are chances for experts in trading but they also might face losses due to unpredictable market fluctuations. But, we do call them experts because they are good in cutting losses earlier and letting profits to grow until market turns. These are the basic things but he could learn and practice these in our real time trading only by experience not by just learning.

Making mistake is most common in trading but not repeating the same mistake is the key. Not repeating will be possible when you are learning some lesson out of your mistake.