Bitcoin Forum

Most things newbies don't know about crypto;

_ crypto trading is not a get rich quick scheme, it's a process and to be a profitable trader you must follow the process.

_ Never borrow money to start crypto trading, because it's very wrong to be trading under pressure.

_ Never give your coin to someone to trade for you, there is a high probability of you getting scammed.

_It is inevitable to hit losses at some point in the crypto market, it's just normal and it happens in any other kind of business.
What makes you a profitable trader is the ability to make more profit than losses.

_ The more money you put into crypto trading the more money you get and also there is a high risk losses without proper risk management in place.

_ Determination, consistency and practice makes you a better trader.
Don't despise your little beginning.

_ Learn to master your emotions.

The tips that people provide are the result of their experience, but as a beginner, when I want to trade, I understand them. I read tips that I will not understand until I make personal mistakes.
The most important thing is to start trading in the demo, where you can trade without losing your money, and from that, all advice will be realistic instead of just words.
The only downside is that your feelings will not be under pressure since you are not trading with your own money, so sometimes experimenting with trading with small amounts may be the best.

It's like riding a bike, it's true that you will fall and get scratched, but 3 minutes of riding a bike equals hundreds of hours of trying to read books to learn to ride.

That's a nice advice, experience almost always trumps theory, not most of the time though (i.e. theoretical physics), but I do agree with the analogy. Only difference is that trading is much more painful than riding a bike when it comes to mistakes, some people will experience loss in trading and that's it for them, they won't try again.

This advices you've got OP, are pretty basic in my opinion, most of them are common sense in trading in my opinion. I don't truly believe in the advice about giving your crypto to other people to trade them for you, copytrading is a profitable way to make money when trading without trading yourself. Also, it's a stockbrokers job to trade for you so it's not that solid of an advice.

This may be true but it is not entirely true because trading profitability also depends on a trader itself. The more money used can result to more losses for most common traders.

If you are trading and continue to fail and lose for a very long time, it is better to leave your determination and find other ways to make money like holding or going for swing trading. But determination can truly help.

Well said! That's really good advice. Experience is often more valuable than spending a lot of time reading books to learn something. I'm not saying that learning is bad, but ultimately experience is what truly matters because it helps you achieve your goals. Long story short, simply gaining knowledge won't make you a skilled trader. I would suggest learning the basics and then immersing yourself in actual trading by starting with a demo account. You will definitely make mistakes along the way but you'll learn from them much faster and improve significantly over time.

The progress is: If you can not double your small capital and keep it safe, you cannot do it with big capital.

True. It increases your risk to lose and it cost you more with interests paid to lenders.

Risk of scam is one of risks. Another risk is that trader might even not able to make profit.

Only if you don't use leverage, your loss wil be smaller. If you use leverage, your loss will be bigger and after a few forced liquidations, 99% of your initial capital will disappear.

With traders, capital is blood so as a trader, protect your capital is your biggest task.

To control your emotion, you must learn about market psychology and market cycle.

we can say that to beginners who want to learn to trade. but newbies have a different view of crypto trading. that's the reality that happens to beginners who come seriously bringing capital to multiply in a short time.
however we explain, maybe they understand but what they understand is the success that other traders get which they can also get easily. I saw several responses like that from the newbies around me.

Have you ever traded with your own tips/strategies, if you haven't, the tips you have are better than the internet, you need to know that theory and practice are very much different, crypto trading can be done based on the expertise that each individual has, you do it this way and I do it that way, the goal remains the same, the path is different.

* Crypto trading can be very rich, if you understand knowledge and strategy, maybe you will be surprised if you see my friend, trading crypto profiting $2000 / day.
* If you can take the risk in trading, what's wrong with borrowing, provided you understand and have knowledge in dealing with losses.

Crypto trading has a broad meaning, if someone does without knowledge of the development of the crypto market from all aspects, all the tips will not work perfectly.

This is not completely true, you can put many of your money into crypto trading and still loose it all. It is not the more money you put, but the knowledge you have before putting in the money in trading. With proper knowledge about crypto trading you can successfully grow a portfolio that has little money, but with poor or not enough knowledge, an account with big money in it, will be blown to zero. Before newbies take this tip, they need to know that they have to have knowledge before putting more money in crypto trading to get more.

That's is very true because crypto-trading is not for those people who want to be rich overnight. It's a very vast field and the advanced traders know that how much they have lost to master crypto-trading and the market volatility. That's why I always recommend the traders to learn the market and master the volatility before doing trading with real money.


I also suggest that a trader should avoid borrowing the money that has interest on it because such money can be stuck if your trade goes wrong. Well, I believe that trading itself involves some kind of pressure and even if a trader hasn't borrowed money from someone else he/she still have to face some pressure during the process of trading.



I don't think that anyone is newbie enough to give their coins to someone else for trading purpose. The other party could lose the coins during losses. There are even some scammers who promise innocent users to multiply their money in a month or 2 months, and a smart person will always avoid those kind of offers.


Well, a trader has to face losses every once in a while and no one is perfect enough to profit all the time. It's always recommended to have control over your emotions during the loss because if you don't you will lose even more. A profitable trader on the other hand is someone who has built a better trading strategy and have a proper plan during the process of trading. Such traders are mostly profitable with their trades.


You should also say that the more money you put into crypto trading the more money you are going to lose if you aren't a good trader, and if you haven't built a good trading strategy. A good trader always prefers to follow a strategy and has control over his/her emotions during trading. A novice trader will rush trade with the more money and the result will be pure loss.

These tips are good and anyone can get these suggestion just by a doing a small research.
The harder part is to keep it mind when we are actually trading and hardest thing is to implement all of these as a habit in our trading journey.
Most of the people lose money in trading because at the time of trading they just lose their emotions and forget that they have to follow the process.
Discipline and patience plays a vital role here and without that we will keep losing money.

Hmm well, I don't want to dishearten you, but you are new here at least from stats it looks like. Hoping you will be one of the reputed members in community with the pesage of time.


Agreed, also put this from my side too ;) ;)


This is a reality most people train themself for this particular point but they fail because their patience limit never let them hold it. They struggle but in the end, they fall. At the same time, most of people fall early who are more impatient and try to become over-smart with the market.

It's really hard practice to follow it at least for the newcomers but if you really want to stabilize your feet in this market you need to improve your patience and consistency.



Hmm, But I think better risk management means better assets to be chosen for investment and trading and I can see only a few in my list from which BTCBTC is on top and it will be on top ever.

All the mentioned points are very essential to follow because they will help the traders to have a successful fortune. Some people believe that they will put money and on second day they will take double of this sum which is totally wrong thoughts because success does not comes in a day but a person should properly works and will face difficulties so through managing those difficulties he will really be a successful person one day.



Giving coins to another is a big mistakes actually sharing your personal information should be avoided because you don't know that the person which pretend to be good with you is really a good person or is just showing and pretending so the successful person will be that person who just focus to be successful and keep his information and coins safe. Scammers are all around us and we cannot recognize them but we can safe ourselves from scammers by not giving any data to another person whether he is our friend or someone else.

I think I have seen a post that looks like this one before but not minding, trading is an important aspect of cryptocurrency that can give us good returns if we know how to go about it. So many of the newbies and traders that call themselves good trader may have been making mistakes that they don't count as one. Since the crypto market is versatile, it is good for us to learn the trading skill. Wey well so that we. An be knowledgeable when we are in the mist of traders. Those who make money in trading are the people that are able to calm down and learn the reading skill very well.

The newbies we haave now in the trading society, are the impatient ones, i do see alot of them in my every day life, some dont even understand RISK MANAGEMENT because this is even the most important KEY for a consistency profitability. what we have now ARE THE ONES THAT WANTS TO MAKE THAT MILLIONS AT STRETCH.

Copytrading is more like a gimmick in my opinion, and it doesn't really instill that discipline and the knowledge bases you're looking for if you're shooting to learn the ropes of trading. Worst of all is that I've never even heard of people advertising copytrading, therefore solidifying my theory that it just doesn't work as advertised. But I digress.

I mean there's little investment advice you can give people really. But I would advise OP to at least do a modicum of research for himself instead of asking total strangers on the internet bout trading and then be given useless crap he wouldn't really be able to use. I don't know how this helps OP with his trading journey, you could've at least given him insight on what Risk Management is.

^Of all you have stated above was true except on this.
Trading is not all about making money or profit, sometimes you need to sacrifice your money in exchange for learning.
It should be better if you are new to trading to start with a small amount of money that you are willing to lose. This allows you to gain experience and learn from your mistakes without risking significant financial loss, and the last one is to implement stop-loss orders. This is a predetermined level at which you would sell your cryptocurrency to limit potential losses. Setting up stop-loss orders can help protect your investment by automatically selling if the price drops below a certain point.

That's a hasty generalization though, just because you haven't heard of people that are talking about copytrading doesn't mean that they're a bad thing, maybe in your experience it's what as you say but personal experience most of the time is biased if not insufficient in terms of data.

Beginners are always having this orientation, they believe crypto space is just a play where you can just invest and within few hours or days, your money will have multipled, most of them don't know what crypto is all about, they just see their friends making money and they will also want to jump into it without knowing what it's all about, that's why mostly scammers target newbies, because newbies lack proper understanding about what cryptocurrency is all about.

Taking a loan is not really encouraging, but if you are a professional trader, you might take a loan, it's your choice but it will be better you have other source of income which you use to pay back loan incase if anything goes wrong, but as a newbie, always make sure you avoid loan because you chances of losing money is higher than a professional trader because you will be working under pressure.

If you know you can't trade by yourself, then avoid trading, if you can volunteer your time to learn how to trade, then trading is not for you, I see no reason why you won't be able to dedicate your time for what you want to be making money from.

When newbies are joining the crypto space, they should always have the mind set of making money and lose, that's why I don't really like most YouTube videos, because they only show when they are in profit, which is always deceiving newbies that you can't lose money in trading. But when trading we should make sure that our profits is more than our lose. If your lose is more than your profits, then something is wrong and you have to check your trading pattern and look for a way to discover what's wrong with your pattern, and why you are really losing.

Yes, there are things which can be learned exclusively in an intellectual way, however there are many other things which require to actually put the effort to practice them to become proficient at them, and trading is one of those activities.

After all a lot can be learned from the books but at the same time they are not everything, at some point you need to leave the books behind and begin to trade, and there are people out there which despite their immense knowledge they may have about the markets, they simply do not have the right personality or emotional control to trade the markets successfully.

Many new investors or traders coming into the market comes with the mindset of cryptocurency been a quick way to make riches which is why they feel very frustrated when things don't go as they planned. Some individuals thought they'll just invest and in a very short period of time that they'll get back their capital and profits but they don't know it's only possible in bull market and not in the bear market.

If they learnt how the market moves they would have known about this. Some go as far as borrowing money to invest which is very bad as the market isn't stable to guarantee you profits everytime. You might make profit today but tomorrow, if you're not careful you lose all.

What you mentioned is correct, maybe I'll just add a little bit because for me the best teacher is still our experience in trading here in cryptocurrency or Bitcoin. And while we do the actual trade, we will feel the feeling when we lose our trading.

If we don't do this, for sure we won't learn, because most people say that we learn from our mistakes. And these mistakes will also help us to create a strategy that will help us improve as a trader. And above all, let's first feed ourselves with knowledge about it.

Among the list, this is the one that "must have" of a trader especially traders that are starting, they must practice it and master it.
Because on your first few traders, there will be a lot of loss and win trades, you need to pass this phase.
So you need to be consistent because along the way you will learn a lot. Capital preservation is the key.

In order to excel in trading it is important for you to be strong and maintain control over your emotions. If you become overly emotional while trading your skill level may significantly decrease, which can expose you to higher risks. To engage in trading successfull you need to address any gaps in your knowledge and utilize technical analysis which is a technology that can help you keep your emotions in check.

A full year is necessary for every beginner so that they are able to witness every seasonal tendency for a whole calendar year. Especially bitcoin and other altcoins that is very volatile compare to other assets, you will be able to see price action that is pretty unusual to trade. Technical analysis especially one that works for you is a must. But, being a person who has the character of a profitable trader and is able to apply that technical analysis is more important. You get to have t build the discipline and enough capital to trade on a series of trades. It is a journey of ups and downs, not a linear path. So don't deal with false expectations about trading. It is the hardest way to make easy money.

Control of emotion was the important one in the trading,because many new people lose the money by the emotional trading.When you train yourself on the trading,you can earn more from the trading skills.

When you need to become a successful person,you need to spend some time for the skills development.When you attain the maximum skill in the trading,you will be a professional traders and earn more in long run.

That's absolutely right, as they say, practice makes a man perfect. This rule can be applied to anything, including trading cryptocurrencies, so as you said, if someone, instead of watching videos and reading about how to trade successfully, tries trading with a demo account, they can get much better since it will be practical learning and practical learning is always better than theoretical learning.

The only thing one cannot do with that is to learn to control the emotions because there isn't real money involved and your mind knows it, so it doesn't panic or take tension as it knows that even if your trade fails, you have nothing at stake that you might lose.

Almost every beginner and some few high rank memebers in the forum is giving this kind of advice, even those who are experienced traders and those who are not, they see ideas from other topics on the forum and reframe them. All those tips are already existing ideas that are already flooding the forum. I have had trading experience in the past, and I am certain that trading comes with a lot of experiences, depending on the trader and the platform they are using to fulfill their trades. If you are an expirence trader, based on your expirencies, what are your own pro tips that you think will help a newbie? Be unique.

It is not wrong that this type of advice keeps re-occurring.
There is no way we are actually going to stop this type of advice from circulating even if it is repetitive. Then it is nice that this type of advice is always seen everywhere, such that it will act as a reminder to anyone that is trying to go against it.

But the real concern is whether newbies make use of this advice or not. I can assure you that the newcomers do not care about this advice. And they will proceed with whatever they are told outside or whatever they think is the right thing to do until they lose money and make theses mistakes themselves. Then will they start to learn from experience.

Well, i think trading is there to make you rich but yeah it's not to make you really quick rich because i have seen a person in my friend zone who is afraid or hesitant to take entry in tokens (info future trading) but few times he had advice some his friend to take entry (he was asked by his friend and his friend forced him to give him some idea so he was left no choice but he also said him to bear the loss if the thing goes side ways) and his friend made good profits on those trades and he was so convinced that our mutual friend got some real skill but one day he lost too and it was also big, keeping in mind that profit booking is good either it's less or more.
Totally agreed, my cousin had asked me (like advice) to borrow some money from our uncle and invest in it BTC, he also asked me back in 2018 and i said no that's not a good idea, and idk why but I still think it's not a good idea because we do not have proper source of income so it will become hard for us to pay back on time.
Just like this dude's uncle gave money to his friend to invest in some meme coin, i wonder what would happen to it as he did not give any updates after that, Taking loan for investment can be life threatening (https://bitcointalk.org/index.php?topic=5445132.0).

I totally agree with all of the other points but it is always to keep them remembered so it becomes more difficult to follow them, but still they are worth enough to give a try in trading activities but at some point, i do know i can not handle all of these points, because as hugeblack took an example of bicycle ride same even after experting bicycle unexpected accidents happen that breaks you up but still the most motivated and encouraged ones stand up again follow the same step that you mention in second last about consistency.

I get your point, and I also still understand if the OP is trying to remind some newbies of those tips. I am just trying to make the OP understand that there could be other of his experiences in trading that he can share and others will learn from, because it can still be very helpful. But that's fine; it doesn't matter how many times those tips get created as a topic by every newbie or junior member.

and most important of them all, knowing that trading most likely will incur losses since the one we gonna face are those big traders that have experienced so many ups and downs, basically a veteran.
which also knows how to get information from some specific projects, if we are still starting out, we definitely don't stand a chance against them.
there is also reason why so many that have started their trading journey suddenly just stops and turn into investing, because it's more profitable this way, we could quite literally just ride the train and generate profits unlike trading where we need to be constantly predicting the movements of some coin based on various things in which gonna be exhausting in the long term.
in short, knowing that trading career isn't as easy as it seems.

Becoming a consistent trader is not easy, it takes strong determination and the desire to continue learning.
I myself was initially hesitant and did not want to continue to learn to trade, but over time I began to understand a little what to do.

Although only using small capital at first it doesn't matter, as long as you are able to practice trading directly and successfully apply it.
From a little capital, it will become a lot by consistently trading according to the strategy that has been made.

And also experience will be very meaningful because it will be our correction when doing every trade.

However, the suggestions given by the OP are all excellent and useful for trading. Although beginners don't focus on these when they first start trading, they suffer financially. Firstly there are many more important ways of trading that must be followed. If you want to make a profit by trading then you have to keep an eye on different aspects of the market. And of course, trading should be done with patience because many times losses will be faced so don't get confused. A new investor is always emotional so while trading he needs to change such mentality and trade with patience.

This is like some of us when we started, it was just about jumping in and out the market multiple times in a day for profit and at a point lucky comes to the rescue and you keep doing that until a time when the trend will change and you find yourself losing steadily and never finding the challenge, newbie will always be newbie. So reading or trying to follow the books may not work for newbie but it is the failing rate that will either make them to stay and look for solution or give up on themselves.

The opposite is what they know, they think that crypto and trading is the quickest way to become rich. Yes, it could be when you've got bigger funds but it's also a way to lose entirely all of it in a glance.

Many don't want to go through the process because they think that it's not gonna happen and it's a waste of time. They want the quicker way because they're all hasty into riches but being in that situation also will make them in a wrong situation and will make them wrong decisions.

Yea, it is natural. It is just like showing you an ocean where you can fetch water but no guidelines on the right way to fetch the water. The ocean will carry many away and some will keep trying till they learn how to fetch water from the ocean.

Yea, I also understood your view very fine. It's all well, just left for the newbies to utilise the available information.

It means that even if we follow those advices, it never guarantees that we become successful. It is because it varies on how we make a decision in a particular situation which I was sure that most of us struggle that especially, during our newbie's time. So it was really expected to have bad days and bug losses as we start trading and it only improves when we already have gained experience and when we already understand the market behavior. A reason why I don't believe someone would say trading is easy because it was not.

we all started as a newbie in this market. but it is our perseverance that made us stay. obviously, we have had our own share of failures and mistakes. for those who don't stay, they won't know the benefits brought by this market.
we will only appreciate what we have done if we are seeing the fruits of our sacrifices.
the tips posted by the OP are not new but somehow, we need to remind ourselves of those basic tips. however, some are in a rush looking for trading signal groups who can give them tips, which most of the time lead to screw up.

Most information on the forum are repeated but it's not wrong when that happens as it helps remind people who might have forgotten and some individual that has missed the previous threads wouldn't miss the new thread. Trading advice aren't different so anybody that wants to write a thread on this advise would always sound repeated to us. Based on my experience from trading, I'll say all trader should always have a strategy.

If you don't have a trading strategy, you'll not have a direction. You should show have a trading plan and not just going with the flow of the market. Know your selling price so when the price reaches that point, you can sell and take profits before thinking about trading again.

The tips you mentioned are very relevant for both new and old traders. Especially new traders when they come to the market in the beginning, they think that it is very easy to make profit here and make a loss on the same mistake. all new traders can become excellent traders by following the tips you have given. all your tips are very good but controlling emotions is the essence of all tips because only one can become a successful trader who can control his emotions in trading.

I will add a suggestion that always invest money in trading that you don't need, because it is a risky platform even if you lose it will not affect your daily life. As this is a volatile market and in times of need, your purchased coins may be at a loss and you can make a loss when selling.

We need every money that we have. Nobody says he doesn't need the money he has because people keep struggling to make more money. I think regarding to investment, the right saying is not to invest as much that you can bear if you lose it. Like you have rightly stated that it is a risky market with cryptocurrency, you can have profit doubling your capital in a day and you can also lose all of it same day, so to trade with good money management will keep you in the market longer. All monies are needed but we decided to invest some on a risk to get more.

the tips that you provide are very helpful for beginners who are just getting into crypto trading for the first time. but even so the experience factor is the most important thing, because after all experience is the most important thing for a trader to be able to improve their skills in trading or correct some of the mistakes they make so that it doesn't happen again in the future.

and one more thing that you missed including is courage, because sometimes you need courage to be able to make decisions on the crypto market. because sometimes bold decisions can give high profits.

There are also some important tips to know about crypto trading and to do it perfectly. We must use a trusted and well known crypto exchange. We must always follow the trend and should avoid emotional trading. Also we must have patience and a proper investment strategy and risk management. Then we may success in crypto trading.

Experience will always be the best teacher no matter what. Your books and other reading materials are not good enough, but give more time to letting yourself experience trading on your own because that’s the only way you’ll get improved and more attached to your craft. Otherwise, you will only trade to gain losses and not to gain real profits. Trading is hard and risky, that’s why you have to practice more to master your skills and trading strategies, and eventually master your own emotions as well as having troubled emotions will never get you far in trading.

Trading is one of the most challenging things in the blockchain world and it requires lots of willingness and determination to reach success. These tips help build up a positive outcome in the future and to apply these, first, we need to have the proper mindset towards trading. It will not make us rich quickly as others think because the possibility of losing is always present but if we have the eagerness to work hard to adopt knowledge and learnings, we could make the right decisions on it wisely.
We can't do perfect trading in the beginning but as we go on with our journey, our experiences will help us explore and discover strategies that we can apply to generate good profit.

I guess not just in trading alone but even to other aspects in life, one must have determination and consistency, and a never ending practice until you get used to it and eventually master it. Trading is never easy and risky especially for noobs, but if you have the skills and strategies as well, somehow the risk of losing will be reduced.

There are certain tips which we should implement while trading but we can't say we will do perfect trade with them because experience traders also makes mistakes sometimes but they learn from their past mistakes.Like you said about borrowing money is risky because a coin can go down literally to low levels making it hard or impossible for you to repay the loan so we should avoid it but there might be some traders for whom it might have worked and they find it good but that's not the case always so you decide what's good after real experience and your journey.

Crypto is not a get rich quick scheme, we ought to know what works for us and adapt good trading strategy. Our plans differs, option A trader plan might be different from option B, we just have to stick to our plans. The market is unpredictable and some days we make so much profits than our targets, while some unlucky days, losses are recorded, that's completely how the market operates. I'm acquainted with it, and caught our expectations short, no one knows the outcomes of the market, I simply advises we trade with caution.

Wealth will be directly proportional to the capital you spend and trading is not always profitable and will not make you rich quickly. Ponzi schemes have also been introduced in a way that offers great income but is ultimately a fraud. Actually, this does not only apply to crypto trading, but wherever we have to achieve the process of making a profit and it's not as easy as one might imagine.

In other words crypto votility can bring problems when you try to take out a loan in trading, it is better if you avoid it and use other ways to earn money.

Your simple logic will put in the amount of money according to the profit you want, the greater your capital the greater the profit, regardless of the risk of trading at a certain time experiencing a loss.

Controlling emotions is important when you are trading, risk management must also be studied so that we can reach the emotional control stage because trading does not always generate profits.

What's strange is that if you fall off a bicycle, which causes scratches, you can't ride a bicycle and are afraid when you see a bicycle. :)

Many tips are given by people about things we want to learn. It's not wrong if those who provide tips about trading are people who have experienced various obstacles in carrying out trading activities.
One theory that I totally agree with is that you dare to try an error. In practice it is done in small quantities.

Yes, whenever a person hears about trading, he thinks it’s an easy way to make money. But the reality is that, in trading in order to make money there is huge risk of getting you money in losses. Trading is actually a lengthy process and in order to be profitable here, you have to learn it properly. Don’t over trade than your budget. Trade the amount that you can afford to lose and at last always have patience. Trading and getting profits might be hard, but not impossible.

Those are good tips for beginners and I think they also apply to everyone who wants to start trading or is already trading. We have to learn more about trading to make a profit.

But it's better if you don't put a lot of money into crypto trading because if you don't have enough skills, it will be difficult for you to get a profit and even that will increase the risk you can get later. If you are still in the learning stage, it is better for you to use a little money to understand trading better.

And another tip is to enjoy the process and don't complain and don't think that trading is the fastest way to make money. Many people who think that way will only suffer losses and if they don't change their mindset, they won't be able to gain at all.

I would share mine too out of experience. They are pretty self-explanatory.
- In futures trading avoid picking very high Leverage because your chances of getting liquidated are also high. Too risky.

- always do your analysis before entering a trade.

- always take profits.

- trading is not a get rich quick scheme.

- have weekly trading targets. It is one easy way to achieve your trading goals.

- be patient and disciplined.

A trader should have an understanding of all aspects of trading along with the mentioned topics. There are certain rules of trading which we should follow and then start trading. Just like trading can't make us rich overnight, we can't get hundred percent sure profit from trading. Losing money means you have to believe you can lose the amount you started trading with. And the most important thing in trading is to believe in yourself. There are many traders who trade depending on other's signals, it is never right, you should trade according to your own trading skills.

Yes always talks profit, but make sure it will cover all the cost. That's why people forgot that they need to get their interest as well or maybe the initial deposit they have done because they keep on running their trades, it is not bad to take profits when you have a profit. For me it is better to be safe than to regret, I rather have little amount of money on interest rather than lost it all when market goes down.

Of course, most newbies are not aware of those tips you have mentioned because, after all, they are newbies.

Did you already see some newbies turning into a professional in crypto-trading in just a matter of a short period of time?

How can these newbies learn fully if they won't experience mistakes while building their trading journey? It's just common that newbies will suffer mistakes and losses as that's their foundation for becoming a good trader in the future.

Didn't you know that even professionals are still losing today? No one can stand the volatility of the crypto-market. What matter here is, if these newbies are serious about learning crypto trading, they will have the ability to make their own strategy that can be effective in their trading activity.

To be honest, there's nothing wrong with borrowing money to start trading because if your trading strategy works, you'll be profitable as long as you stick to it. However, because you are borrowing and the interest rate is progressively increasing, it could influence the way you trade. That is why it is not recommended to trade if your capital is not your extra income since it will drive you to trade emotionally and make it difficult for you to stick to your trading plan, especially if you are on a losing streak, which has a larger possibility of draining your capital.

There are a few basic aspects which we have to know about our strategy, what is its win rate? What is the ROI on each winning trade? And even more importantly how much money you lose on each losing trade?

This is the basic of the basics and yet there are many newbies out there which do not know that data about their strategy, and depending and those numbers taking profits earlier may make sense or not, however not everything is about numbers, as there are circumstances in which taking profits early makes sense, and one of those scenarios is if you took the risk and invested in a shitcoin, this way by taking profits early on and get back whatever money you invested in that coin, you are from that moment on in essence playing with free money, and whatever you get by investing in that coin is pure profit, and if the coin happened to crash and go all the way to zero then you at least avoided losing any money.

there is nothing wrong with borrowing money and using it for trading, but this will create multiple psychological pressures. Logically, of course, we are required to be able to repay the loan, so we must make a profit. as long as we can anticipate our psychology it might not be a problem, but if we are still in the process of learning and don't have good trading knowledge, then this will be dangerous to our capital, losses can occur, and afterwards it will be more difficult for recovery

 

Yes, because of the danger involved and the volatility of cryptocurrencies, it is not suggested to borrow money to trade them. As a result, one might not be fortunate enough to make a profit or it might lose money no matter how good it may be. Borrowing money, however, shouldn't be an issue if you have another way to pay off debt, and I don't think it will put you under strain when you're trading. However, this should go for experienced traders, not simply novices who have never engaged in trading before.


I can say this is not common in the cryptocurrency industry, but what know is that a lot of people are looking for a signal, which I believe is not that helpful because many of those that give signals are liars, and I see it as a scam.
Yes, capital plays a very important role in profit-making in terms of trading, but it's all not about capital alone, someone's knowledge and skills in terms of trading are what determine the profits someone will make. There are some people who make reasonable profits with small capitals because they are good traders, so capital with good knowledge is the one that determines the amount of profit someone will make from trading.

The "not get rich quick scheme" part is the most important thing because there are way too many people who think that they are going to get rich when they invest into crypto, it is not an automatically profitable thing, you might lose your money as well. The only thing that is more guaranteed if you are careful about it is a gradual increase and that will benefit you the most.

Maybe you won't get rich in a month, but you can realistically make 50% a year over course of 10 years, even if some years are bad like last year, some years could be even better like the year before, and that will come to 50% yearly profit on 10 year basis and that will make you rich, do that for long time and you are super rich. People need to come down from the clouds and look at the real life.

I totally with you.

Actual trading is much more easier to understand rather than watching a lot of videos before you actually trade. Though it has its own disadvantage and advantage, trading right away is much riskier but you'll gain experience instantly that you will need in the long run, while the other one is a slow phase though the risk will still depends on how much you will enter per trade.

In short, it will all vary on the trader on how he will execute risk management perfectly.

Agree with you that no tips and tricks involved here , actually trading is much easier to understand only when your goals and targets are specific. As such says that successful traders learn from the mistakes. Well said here that your personal intention towards the crypto trading always helps that how to pay attention and how to play. You must keep yourself updated with the latest news and trends in the cryptocurrency market. Do the practice of risk analysis/ management. Also consider that that crypto trading involves risks, and there are no guarantees of profits. It's advisable to start with a small amount of capital that you can afford to lose, especially if you are a beginner. 

Stick with the basic. Just invest an amount that you can afford to lose, otherwise if you use your money intended to pay the bills or to buy your necessities, you will really be in trouble after that. Most especially with trading, as it won’t guarantee easy profiting so you have to be more skilled and knowledgeable enough before you decide to trade and risk your money. You know, money is almost everything these days, so make sure if you risk some amount, make sure you will gain more than to lose them all. Trading is hard, but if you are a good one, then you’ll also be rewarded with life changing profits.

The reason why a lot of people still believe that trading is a get rich quick because the social media feed it. That is why never rely on crypto influencers as most of them do not know actually how to make trading profitable. They know that there are huge profits in trading, but what they didn’t know is that they can also incur a lot of losses from trading. That’s why before you decide to trade, think a lot about it and trade only on the amount you can easily manage to lose.

Many of these pro traders keep posting there results online and this used to make some persons that do not know how trading works t ok think that trading is very easy to accomplish and make money from it. Make we don't ask questions about what we urge to know, we might end up losing the necessary information we need to know that will give us an impressive beginning to how to become a successful trader.

So many things to learn and sometimes if we don't study the necessary, we might keep seeing loses Everytime because we failed to learn it all. There are different things and ways traders do there things to make sure that they keep making profits from the market and if this is mixed up, we will end up getting it wrong.

There is only one thing that I agree with you said trading here in cryptocurrency is not a rich-quick scheme. To learn crypto trading, there really is a process, it cannot be without it. And the first step here is to now learn and practice it at once in the actual trading platform in any of the exchanges.

And it's much better to start with a small amount while you learn about crypto trading. It's better for me to balance both theoretical and actual trading right away. Through this, in a short period of time, you can immediately see the idea of crypto trading in reality.

And you missed that there is an 8th. That is the actual practice and proper implementation of these 7 tips. You see it is not about knowing, it is how well you apply what you know. Because in trading, you are not rewarded for what you know, you only profit on the market on the decisions you made. And the quality of your decisions depends on the small things that you do in front of charts.

And remember that successful trading is not an event but a journey. Because if one day you realize that you already figure it out and you have the holy grail, I'm pretty sure that on your next trade, you will be humbled.

I don’t think newbies will come to realize that since they are even using it as their motivation why they enter the crypto market. Yes, they are greedy in the first place, but we all know everyone who enters the market is all about quick and huge profits that will make them rich in the end. So I think that’s somehow a good thing because eventually, as they go on learning and embracing investing and trading, they will start to realize that everything that is gained is through hard works and efforts and profits do only come to those who patiently and tirelessly work for it.

Experience trading in the market, that’s the only way that you will end up realizing that trading is never easy and will never be a source for quick profits. But as long as you keep on learning and make yourself grow in trading, know that it will be easier for you to trade for profits and will be more able to control unexpected losses. That’s how crypto trading works, it’s only hard in the beginning but you’ll get used to it until you start mastering it and make yourself profitable.

This post made me recall back to my past, a few years ago talking about borrowing money to start up trading, for me I borrowed some money to start up trading I would say it did favor me but it was a 50/50 you can lose or gain but I will advise for a newbie not to see it like that and also talking about The great Mr emotion it all know as the controller in trade today, many newbies fall in the victim of it don't have control when trading, lastly mr greed I no for someone to govern it is a hard thing but still one can have a  complete control for this things
I could tell you today trading is not something you can learn in a day or two it is learned over a year and also it is not for kids that why learn you have to  study it l
 like a course
For myself,  I do call it trade101.

I agree about that because many people still think that crypto whether it's trading or holding is a rich quick scheme.

That's what they don't fully understand about it. And just like any other markets that do have times to struggle, that's how it goes when you don't understand it.

While looking at those people boasting profits they've made from the crypto market, they're making it look easy but in reality it's truly hard to make such profit in here if you're not prepared, mentally and financially.

It gets to be very funny how people keep giving this trade advice, but forget to put proof that they are putting this advice into practice and are having results, hiding the truth is a big problem that many people have or like to do. I ask:

- OP, do you have any success in the trade? how much capital have you put into the trade and how much profit have you been making daily, weekly and monthly?

well, here's the thing, years ago I also started day trading, studying and studying was all I did, watching many videos on youtube, reading many books and practicing a lot, but over time I realized that day trading it wasn't profitable, it was simply something that wasn't worth it, I came to think that the problem was only with me, but then I started to see that in fact it was with almost or maybe all people, those guys on youtube none of them post proof that they are winning money with trade

they make money by giving courses, they make money from their youtube channels and telegram channels, but they don't make money from trading, so I hope people don't get fooled by trading, the best way to profit in the cryptocurrency market is to buy and hold , buy whenever it drops a lot and do hodl in the long term, if the person follows the advice of those other people who say they trade, all the person will have will be losses and disappointments, he will buy and wait the whole day to go up and sell because he thinks that it will drop a lot and as you put a stop loss you will sell and weeks later you will see that the price rose while you sold and you could have profited if you had done hodl

Yes exactly because trust someone blindly can be very dangerous and full of risks. You should not even share your private information therefore sharing the details to others and trust him so much to give him your asset does not sound well. Scamming is not a hard thing to do so it's up to you that how you will avoid scammers and don't believe on others. Other disadvantage is that if unfortunately he losses it then your link of friendship become weaker because you will blame him and he will left with disappointed heart.

I think, I'm very sure that if many people know about the things that are listed above in the OP, they really understand the various tips and advice. But the problem is that they are ignorant of it, and continue with what they imagine, not according to reality. Sometimes this happens because their expectations are too high, their inability to manage and control themselves, and their unwillingness to learn first.
This is often a big problem for both beginners and those who have been in crypto trading for a long time. While we are well aware that crypto trading is actually very risky, some people are really ignorant of this. There are even some newbies who dare to take loans for trading, hoping that they can get a lot of money quickly. However, the reality is usually the opposite.

And it is unlikely this is going to change, after all influencers make money by trying to get more people to watch their videos and to subscribe to their channel, how many viewers could they get if they told the truth to all of those newbies and said to them that trading is incredibly hard and the majority of them will fail?

Not many I suppose, while those which are not afraid to lie and tell the newbies what they want to hear get all the viewers and money they may want.

The higher your capital, the higher your profits or loss that you get from trading. Most new traders just think for them to make profits from the market that they have to increase the capital that they use for trading. But that's not how the market works. You increase you capital only when you can guarantee yourself of making profits so the capital increase make the profits to be higher than want you get previously.

A tip that can be very useful for new traders is to start small, don't use high capital when you just started trading because at some point you'll make mistakes and when that mistake comes it shouldn't be a mistake that might result to you quiting due to the amount of loss you experience.

There are indeed many beginners who misunderstand this in the world of investment or crypto trading. Many think that trading or investing will make them quick to make a profit, even though having such thoughts is not quite right. Because as you wrote in this post, to make a profit in the crypto world, definitely need a process and coupled with thorough learning about crypto. So if don't enjoy the process, how can benefit? Maybe the reason beginners think like that is because they know or hear that there are many people who make big profits from investing or trading crypto. So the beginners joined in with the crypto world, with the desire to get profits quickly.
His name is also trading, profits and losses will always be there. But the loss can be minimized with the right knowledge and always learn from experience. In this way, I myself have practiced and proven that losses in crypto trading can be avoided. Most importantly and don't forget, never be a greedy person when trading in crypto. Because according to my personal experience, it is greed that is the most dominant in trapping traders to enter into losses.

There is nothing like top to know cryptocurrency trading. What we can do is to get tips that will improve our cryptocurrency trading. This is when learning comes in. We need to learn Crypto trading and for us to get aquainted to it, we need to get tips that will help us improve in our journey to become a professional traders that can predict the market even though the market is not that volatile for trading. There atrs many things crypto traders need to know to trade the market very well without having a consistent loses. Those who are making money in the market now are those that have learnt and understand the market and how it moves.

This is the actual thing that instead of huge amount of money if you have no idea how to reap the benefit and how to increase your profit then this huge amount of money is useless until you learn every single strategy that will aid you to earn more cash.

Money and knowledge both are very necessary because if a person understands the market situations very well but have no money to use for profit then he cannot be a successful trader so in this situation taking loan is not a bad idea. Always remember that you should select that business in which your are familiar with risk management and you know how to take profit under any harsh situations.

I think most newbies know this, they must know that every business needs a process to be successful. But they may hurry to use bigger funds because they saw some professional traders can earn thousands of dollars from crypto trading. They don't know if it requires good skills and experience, it won't be achieved instantly.

Sure. Using borrowing money isn't recommended. Besides we trade under pressure, we also will be in trouble if we get losses and we can't repay the money on time. I believe we will try to get loan money from another person if we experience the problem. So, the borrowing money is getting bigger and bigger.

Controlling emotion is always difficult to do, even it is an experienced trader.
We need to experience a lot of exercises to master our emotions. So, it should take a long time, especially for beginners/newbies who never know crypto.

I would think that someone who understands business well and has no bad temper can focus on business completely. If he doesn't have cash then he can start his business through loan. When you start a business with a loan you must keep in mind. You will have to repay the loan bit by bit from the money that will be generated through this business. A person's experience is very important in doing business. If you do business with this loan, you must work hard. I think hard work is the key to success.

Yes brother your thinking are well. I am also agree your some tips. Cryptocurrency trading is not a casino it is real time buy sell or Trade so there has no way to rich overnight. And i also think and agree with you never Borrow money for crypto trading. Because it creat extra presser as a result we will be losser. Always remember about risk because crypto trading is more risky. And to be a good trader meed proper knowledge so we have to learn More about crypto currency and cryptocurrency market. And remember most important things emotional trade is veey harmful for a trader. So we need avoid emotion for trading.

If someone actually does this, then I don't know why they even try trading in the first place. Although copy trading kinda similar but you still use their picks and you do the job, but still it's not reliable to do.

In reality, lot of threads on this forum always stated they need to seek for 10X or even 100X coin to invest that means they want to earn bit hence want to get rich quicker. Although it's possible to see that number but it's really rare and if that happens, then that's good for you. But always keep in mind that if you want to seek that profit, then you must know about the risk as well. If one goal to get rich quicker then trading is not for them, they will lose miserably because chasing winning but not managing them.

This is difficult to do. Even experienced traders sometimes have an issue doing this although they have faced similar situations before. It's a human nature thingy, it's difficult to get rid of it but at least one must know how to control it so it won't affect you that much.

Yeah, it is about understanding how to build income and not just profit. If you invest 100k into bitcoin and do nothing else and just hold, you are not going to be making as much money as someone who can put 1k dollars per month into bitcoin every month.

Eventually even with increased profits, that person will beat you, and that means you need to keep having more income. That means with that 100k, don't just put it in bitcoin, sure do that if you want bitcoin but also find a way to make more bitcoin with it as well. I know very few places where you can make returns, like 4-5% returns per year, that means income, that means more returns, that means you will have money coming in every month and that's what you need in order to get richer.

Knowledge is obviously a very important thing especially if you are trading cryptocurrencies since you need to have enough knowledge about every tool and indicator that can be used to analyze the market and the price movements of every cryptocurrency. Experience along with knowledge can make your trading way more efficient and affective, if you have both knowledge and experience, you will see a constant improving flow in your trading activities.

One might gain knowledge very quickly if they pick up things quickly because it is not rocket science and one can easily grasp the techniques and stuff about trading, but experience comes with time, so someone shouldn't take very big risks until they are experienced enough.

This is not true, most of those who invest heavily in cryptocurrency only burn their used capital due to the wrong purchase of crypto that is thought to give a good profit in the future. But there are others who only used a small amount of capital and it gave them a good profit in a short period of time.

Meaning, it depends on the knowledge that you have in conducting trading here in cryptocurrency, not that you just have a lot of money is enough for you to get a big profit, this is a wrong big understanding of crypto trading.

The fact is this principle doesn't really apply. In futures trading, the level of risk can be adjusted as if you had a higher equivalent amount of capital.
For example, now compare someone starting a $1000 position with 2x leverage with a $100 position with 20x leverage.

By putting fixed amount and then leave for certain period of time is also a way of earning and as you are talking about regularly put money into bitcoin so I think that everyone cannot afford investment on monthly basis. It is true that by putting large amount one can get large income but it also true that by putting large sum there is higher risk associated with larger sum. By holding one can get profit but it depends on you that you get profit on monthly basis or any other time when market is up.

I don't know that about which places you are talking but as we talk about crypto investment then we can say that there is no surety about monthly based income. Sometimes you will win and may be another time you face some risky situations so it will be more beneficial if you put less but take step with caution.

Taking a loan to start a business might be a good idea but only if you have a business plan that you know will work and you won't have to face difficulties in case your business don't go the way you might have expected, so it is better if someone tries to start a business with what they already have instead of taking a loan if they don't have a proper business plan and have no guarantee that they will be able to repay the loan.

Temper might have its impact on a business but the main thing is focus and hard work and improvement, if someone can keep improving their business over time based on the trends and likings of the audience, their business will have the most probability of getting successful.

I agree, I even took a loan when I started my business but it was a hard decision of course, taking a loan requires you monthly payment it is good if you have find a loan service who offers small interest. Taking a loan always took negatively by other people but what matter is how you can pay it and still have earnings. But taking a loan for crypto is very risky,not unless you understand the market and charts and you only invested to btc , eth because that is the only coin I will choose if I ever took a loan again and invest in crypto.

Taking out a loan to invest in cryptocurrency is too risky for me; even if I'm aware of the tremendous gains created by cryptocurrency, I don't put my decisions in jeopardy. We are aware of the potential risks associated with cryptocurrency, and I am not prepared to go on this course of action. Loans charge extra interest if you don't pay them back on time, therefore it's never a good idea to take out a loan to start a new business. There are difficulties we experience, such as struggles fulfilling our targets in our businesses and recording substantial losses, all of which occur in order to close the business; these are negative barrier factors that all investors face; we are not exceptional.

That is so important that it has to be repeated. There are so many people who end up with a trouble in the end and mainly because they see what they have to do and sometimes they ignore it. I have no idea why they do that but that's the sad truth. If people start learning what they should do AND start implementing that while trading then they would trade very well but most people fail to do that part.

I believe its not that hard, after learning what you should, then doing it should be easier but unfortunately there are way too many trading with no care in the world which causes them to lose money. I believe that it would be smarter if they ended up focusing as much on implementing what they learn as they learn, that way they could actually become better.

Making loans to invest in highly volatile assets like crypto is highly discouraged - but some risk takers have done so in the past. Even some of them are willing to sell their house, car or other valuable assets to get a budget - but really it's too risky to do. I've read about it somewhere - but I forgot about the thread.

Many people may be too passionate about high expectations of return on investment - but they forget that doing so is too risky. I can't imagine what if their plans don't match reality, but one thing for sure it will only get them in big trouble.

Over the years we have seen several threads like that, some had a happy ending while some did not, however even if those selling their house or car are taking a massive risk by doing so, at least they are using their own money to invest in this market, so even if the worst came to happen they are  just back to square one, however those that ask for a loan to invest in this market are in a way deeper problem, as not only they lost everything but now they have to repay that money with interest.

Honestly I don't see anything wrong with getting a loan to boom your business to make more profits from the market. There are different businesses we can venture in and if we know and to get what we want, we can always get a loan and grow the business to peak.
Getting a loan is not advisable if we don't know how to control money and use it to get what we want.

There is risk in the crypto market so this is different from our regular business that we are doing that might not have the kind of risk that we might to exposed to in the crypto market. If we can make sure that we are not going to lose the fund, we can get a loan and use the money wisely to trade in the mark6for the sole reason of making bigger profits to pay back the loan.

Unfortunately that is because of the marketing some influencers does, and that does impact the market terribly as well. They do marketing, even pay out ads that shows they made millions from trading and trying to sell you the secret, if you made millions then you do not need to sell it, so it's obviously a lie and nobody can prove otherwise ever, nobody ever has.

However, newbies sees this, and they have a pretty rough life and money is not abundant, so they decide to give it a shot and hope they can get super rich, which ends up being untrue and they lose their money instead. Crypto world is a place where you can either get rich in the distant future, or quickly lose all of your money, it's risky and dangerous so you should be careful.

Well, trading at a bigger money also means higher risk of losing if you don’t know actually what you are doing. However, if you trade with the coins with highest potentials and you trade at its best price, then you will reap huge profits after. So it’s true trading becomes more profitable if you are highly knowledgeable in trading and you are trading with the perfect market price. While it could give us some life changing profits, it could also be a source of life changing losses if we are trading the wrong way.

Investing does not guarantee immediate profits so if you invest from a borrowed money, then most likely you will struggle to pay for its interest and monthly amortization once your investment still not paying off. However, for some risk takers, still they made it possible because they possess all the knowledge and experience needed to invest. But for newbies, taking a loan is highly discouraged as it could only ruin your finances once you find it hard to manage your funds and emotions as well.