Bitcoin Forum

So I'm about to invest in cryptos for about 1500 euro after trying it out in september with great failure, lost a bunch, bought high and sold low cause I needed the money.  Now actually I'm thinking of flipping coins, find good coins in dip and sell them in pump and repeat in other coins, I'm gonna stop cashing out cryptos in need of money.

You used to trade on emotions and it was a terrible mistake. You need to be disciplined and make up your own strategy to become successful. It will be great if you manage to find good coins on lows and wait until pump, but actually, not always even good coins go up, so you need to be patient and know when to sell off so as to fix profit or at least not to lose too much.

I believe in the philosophy of "set it and forget it" when it comes to projects with strong fundamentals, which for me, are DeFi and have stable #APY. While everyone is playing around with NFTs, I don't think there is anything more exhilarating than starting and running your very own Mint (akin to central bank, but think decentralized as other users are doing the same).

I love dotmoovs, it suppose to pump hard in february but im looking for short-term flipping.

You have to take the more risky side, altcoins.

Can anyone predict which altcoin is going to go 400% today or tomorrow? Nobody can. So as far as "mentor" is considered, you are on your own on this one.

If you go to youtube or some other social media site to look for picks on altcoins, you will hundreds and hundreds of them everywhere - just think about it, if predicting risks altcoins was such an easy job, would not every altcoin owner have already become millionaires? Answer is again No. It is because of the manipulated pump and dump that occurs in every shitcoin market and that is the biggest reason why newbies end up losing money on altcoins.

You can go with the currently trending altcoins, but with a lot of risk. The crypto market or any other speculative market is not a "get-rich-quick" scheme, if anyone is telling you that be assured that they are leading you to a scam. The safer method to invest is here is bitcoin and a mid-long term hold, not short-term.

Mentor like someone will guide you throughout the way? Luckily there are plenty of resources on the Internet. But I'm not sure if there are people who do a 1 on 1 tutorial for this and a guide for a proper and effective trading strategy. But if you can afford to pay, probably some will accommodate you.

Its always about money and payment. There are plenty of ways but I advise use Internet since its free.

This is your fault so that you experience big losses, always use money that is not for important things or daily needs or you can use some of it.

There are many free sources on the Internet that you can use to learn about trading, don't think about doubling your money overnight because this kind of thinking will lead you to pump and dump group that promises big profits, but it's not impossible to lose a lot, because suggesting buying coins low trading volume and only available on small exchanges.

Altcoins are harder to predict even if they reach the bottom dip, you wouldn't be able to predict when they will go up. I gave up on altcoin flipping already although I still hold some of them. Your soon-to-be mentor may also say the same. It's not a recommended route while in crypto trading. The best to trade is BTC/USDT because you can grab USD even if you are just in the spot market and that's cashing out USDT.

Just go with the high volume coins. If someone tells you a good coin to invest then you've found out that's a bad coin, are you still going to listen to a stranger?
That's why as you invest, your experience is going to be your tandem and friend on this matter. You set your goal, short term or long term, if somebody plays as your consultant then that's good for you but as you know, there's no one that will offer themselves to help for free and has to get along with you.

There are people who can guide you or provide trading tips but if you say that a mentor who will select coins for you and will tell you right time to buy/sell then it's hard because there are no such perfectionist in this trading market who can always be accurate and you need to learn all by yourself.There are many proclaimed geniuses who will ask for money from you to give trading signals but in the end it's all in vain and you will be left with nothing if you rely completely on them and they will gain from you instead.This is open market and you can learn lot of things here if you are willing to do so.Be your own mentor rather than finding one.

No, he didn't trade on emotions. He traded out of necessity, which is even worse to begin with. If you don't give yourself a sufficiently long time horizon for your investments to perform, you get stuck in exactly the situation you found yourself in and you got to sell out of necessity.
Even though crypto is extremely fast and volatile, be somewhat realistic about your expectations. If you hope for a coin to double within a week but instead it drops by 20% and you have to sell, that's just your fault. Take money that you can indeed just leave where it is for a very good while. That's how you can swallow short-term decreases in price and be patient for the pump that you expect based on your analysis.

Can i ask what coin do you buy on september? Did you traded on spot or futures? Investing on ICO, IDO or something like that? Basically Crypto was volatile in whale was easily manipulating the price to bait traders like us to joing their pump & dump scheme, If you are previously on some meme coins or something like that then don't do it again. Better holding some major coins like BTC, ETH, BNB, LTC and wait for long term for steady growth if you want to get more profit but more risk try some altcoin like Arweave, AIOZ or something like but will real use case.

The first thing you need to know is:
Invest using unused money (cold money), never use money that you will use, because this can make you panic when your investment is experiencing a decline.

This is not easy for beginners, because beginners will usually look for pump and dump tokens ( shitcoin ) never researching deeper into a token / coin.
My advice is that you better learn to analyze a coin / token, pay attention first, don't invest immediately.

It is a good decision that you will not sell crypto when you need money as long-term investment requires time and patience so you are to hold. You have already had some experience so you understand that it is wrong to buy on highs and sell on lows, we are to be disciplined and make only deliberate purchases based on investigations of altcoins themselves and crypto market state in general at that moment.

One of the losses that invest in Crypto is
High volatility, which is a condition when the value of the currency suddenly increases or dramatically decreases and in a fast time.
We find it difficult to predict future currency values, so that the risk of loss is higher.
So, if investing in the Crypto world must be prepared with all the consequences.

The first rule of the crypto investment process,  is only invest what will not hurt you much,
The other is don't fomo in and don't panic sell, try as much as possible to avoid buying high and selling low,
The other is lots of patience, if you are not the patient type you will end up losing more than you have gained,  as long as you are not a day trader but just an investor, you must learn patience.

t is a good decision that you will not sell crypto when you need money as long-term investment requires time and patience so you are to hold. You have already had some experience so you understand that it is wrong to buy on highs and sell on lows, we are to be disciplined and make only deliberate purchases based on investigations of altcoins themselves and crypto market state in general at that moment.

I believe what you did was a gamble.... if it wasn't a gamble you wouldn't be needing the money for something else... and if you didn't invest on solid crypto/projects that will mean more risk to the gambling behavior.
You should always remember to invest what you can afford to risk/lose, especially invest on solid projects. This should enable you spend more time understanding how the market works without pressure or fear of loses.
When you become consistently profitable and confident enough with your trades, you could gradually add more money to your trading funds to earn more. I would use 200-300 euro from the 1500 euro for trading to reduce risk and gain experience first, I would reserve the remaining 1200 euro probably in fiat/stablecoin or Bitcoin. And I can always take from the reserve fund  when I need money to solve other problems or to increase my 300 euro trading funds

Most traders lose money. The advice I can give to you is to follow what this tweet says- https://twitter.com/MotherbrainDAO/status/1458371659677769729?s=20
If you need more advice you can send me a DM.

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I should also add, what they don't tell you is that 90% of traders lose money. If you want to make it you need to mine crypto and/or yield farm on a platform like Pancakeswap or Ref Finance.

[moderator's note: consecutive posts merged]

daveid1, if you really want to to put your future profit in a hand of random and flip coin while making decisions what to buy and when to sell, then I suggest you to simply spend your money on charity and dont torture yourself.

You post that you need a helper? What do you expect from that helper? To flip your coin? Or you search someone that will do research for you and advice where to invest? You would better find an institution that do that for you, have reputation, but charge a % of your profit. If you really want to find that person here, then ask yourself, how much are you going to trust him, because that persons risks only with his account.

There is no definite mentor. I rely on the internet as a mentor. in trading, development information, ways of analysis and fundamental news to support cryptocurrencies. When only investing without knowledge and analysis then what you do is like gambling only. Look for a lot of references and information on this forum.

As long as we can do research and analysis well, we don't need a mentor to invest in cryptocurrency. That's why I always say repeatedly in this forum
the importance of learning first about the crypto world, before finally deciding to invest in crypto. So that we have knowledge about how the crypto
world works, after that try to learn how to do the analysis correctly. Crypto price movements are very volatile, so we really have to be able to predict
where the market will move, it can be predicted through the results of the research and analysis that we have done. But even if we really need a mentor
to guide us, we can look for people closest to us who are already successful in the crypto world. Or we can also take courses on trusted platforms,
from there usually we will be guided by mentors. Don't look for mentors randomly on this forum or on social media, it will only make us a victim of fraud.

First of all it is important to invest that part of your money which is not needed in daily life. Because if you do not have money then obviously you will sell the coin at low price to fulfill the requirements. Other thing is that you have to wait until the price of the coin evaluated. If you cannot wait for the price to become higher then it is your worst mistake. As it is important to have tolerance. if you want to be successful you have to wait.

making research is the most effective way to become successful when it comes investing crypto currency, not when you see someone saying its good to invest on this coin you will dive in.. No mate that's a big mistake!.. Go and make search which coins has a potential to hold for sure you can see some influencer around the internet that sharing their thoughts and opinions about the token or coins especially through youtube wherein you can see feedbacks as well from alot of people which is useful because it can help you to decide where to invest..  Of course learn how to make technical analysis or fundamental it's a big advantage to be honest..

I think no ones is really expert in crypto because no one could predict the crypto market, it's really depends on many factors that could not be able to predict except whales.
So i think you should find a mentor to manage your investment instead of mentor to teach about the crypto market.
Risk management is the most important thing to have when entering crypto market because it's impossible to win in every crypto investment.

I'm afraid that you're making a wrong decision/choice to openly/publicly declare your desire to get a mentor/helper in the crypto network, you're unwittingly exposing yourself to scammers who will obviously approach you with the erroneous intention to help you get to the very top with your Investment/trading, but they actually have the ulterior motive of scamming you.

Having said that, the forum is a wonderful repository of knowledge, thus you can get enough knowledge from it, and also ask questions whenever you want to, even if you decide to get a personal tutor, make sure your private keys and seed phrases is only known by you, do not give them to anyone, even if they are your so called mentors, you must maintain a high level of protection always and do not trust anyone but yourself.

You have a clear goal, that is probably the very first step needed to make your goals a reality, however what else have you been doing to advance that goal and to make it a reality? You stated that you lost a lot of money in September and you sold because you needed the money, so you have been breaking some of the most basic rules of trading, like ‘only trade what you can afford to lose’, ‘do not trade with your emotions’ and ‘as a newbie learn how to trade bitcoin first and get away from altcoins’.

So unless you have done something to improve significantly I do not think there are going to be many people interested in mentoring you.