Bitcoin Forum

Hello, I would like to give advice to beginning traders, perhaps many people know this, but not all, especially they are relevant for today's market.

5 tips for cryptotraders!

1. Do not buy up everything that see!
Presently very much tokens and every day them to become yet more. Even to the professionals difficult at times to recognize scam tokens, that to talk already about novices. If you begin the way of trader only, trained first on stable currencies with large capitalization.

2. Do not spend too much time on trade!
Many people think that after sitting as long as possible while looking at the charts, they will find a potential gold deal. First, the crypt market is so dynamic that if you miss one opportunity, you will have 5 new ones. Secondly, to trade tired very bad idea, which usually will cost you a lot of money.

3. Not panic!
Fear and panic are the two biggest enemies of every trader. Remember that cryptocurrencies are too volatile and be ready for it.Do not rush to do something, think well  and remember patience is the golden rule..

4. Don't get fooled by tricks!
New altcoins-this is what lose money a lot of beginners. The desire to recognize the new bitcoin has already destroyed many cryptotraders. A lot of altcoins that enter the market are absolutely not suitable for long-term investments or are pacifiers at all.

5. Choose the right exchange!
No less rapidly growing and the number of exchanges. Many people want to lure you with attractive terms, but you have to understand that for them there are certain risks. It is better to start working with already proven exchangers which are used by most people.


I hope someone was useful. Good luck and big profits! BTCBTCBTC

6) Be patient. Understand the 2nd degree volatility inherent in altcoins. To catch a good bull run for exponential returns, you can attempt gridding (increasing the proportion of

your entry multiple times as price goes down), while normally a risky methodology, this can give you astronomical returns for high volatility products.

the most important thing in trading is money managements and psychology
so, try to discipline in money managements
i believe you will see the nice result if you discipline on that

Nicely stated, i think these are the basic rules for trading but a couple more can be added like never invest more than you can afford to loose, never put all your eggs in the same basket, moreover, diversification can help you get a balanced and less risky portfolio.

agree.
money management is a super important thing!

maybe the last thing is luck, whether we will profit or get a loss. thank you for the knowledge you share, hopefully can help everyone, especially beginners.

Building on that, don't invest when you take out a loan. Sounds simple but I know a handful of people who have conducted themselves this way and it could pay off, but if it doesn't your life is pretty wrecked. That is how people commit suicide.

Honestly I really think that this is the most important thing here, without this trait we're bound to make a lot of bad decisions, if we really wanna last here at the crypto world this trait is a must and something that must be honed everyday, something that we really to master. Other than that I really like the 5 tips the thread starter made.

I would add the point, patience. It's very important point. Because often you need to wait a couple of days or even longer, to catch a good bull run. And if you dont have too much funds, only thing that you can do, it's to seat and wait and it's very annoying.

That is pretty useful, even not for newbies, repeating and rereading general rules is always a pleasure. I would say, be patient, that's according to 3) not panic. If you decided to buy or sell, put stop limits and see how everything goes, and always check the latest news of the project, to be able to fix profits or losses quickly.

this post is help full for every one because some new traders come in trade and not know about trade and then loss all their money i think new traders can put best knowledge form this post.

My worst mistake was stop loss. Guys it is really really crucial.

I don't think is bad idea to spend to much time in trading because it is really worth it to gain more profit. The more time you spend time in trasinng the more possible you earn money. But most of your tips is very helpful to those people who want to start trading so they can use this tips to become successful.

these are many useful advices, if i known them when i started i would have saved a lot of money. the most useful in my opinion is the third, don't panic. many times if panic sold in loss driven by fear, these situation are mostly dued to the fomo, if you buy some coins driven by the fomo and then suddently it starts to fall you will probabilly sell even if you are in loss. my personal advice is to stay away from pump and dump groups! they are very dangerous

Two Rules I've come to appreciate about cryptos:
1. You only loss when you sell
2. Visualize the technology before you invest

In my opinion, these are extremely important tips. And also, I think traders should avoid investing in with high amounts which might bring problems to their economic situation.

Above were much needed yet its hard to do sometimes when your in need, though we can lessen the loss if we plan ahead and knew how to diversify our coins and earnings.

With number 5, every exchange does have their own problem, pros and cons but choose the exchange that you have good experience and you have proven its service.

On number 2, spending too much on trade its okay to do so. Learning the market, getting more analysis and the wave of the current charts can be a good help for a trader.

What if I sell in profit?

This can be summed up into Patience and Smartness. To elaborate, you should be smart as to when to buy or sell, and as to which coin will work for you. As a matter of fact, you always need to play/trade/study in a smart way. Otherwise, you will end up losing. Added to that, patience is required if you want to have a good profit because without it, you will rush up. You always need to remain calm and stable so you do not panic.

Thanks for the tips. Right I don't spend much time on trading. There are only hours that trades are active and the rest of the day they seems to be sleeping. Traders sleep too you know. I also just set orders and check on them from time to time. I gain up to 50-80% gain by just leaving my coins for a few days while I'm busy with other stuffs.

wow thank you for this suggestions and advice. I'm still starting with cryptocurrency. This is a good start for me.

It all sums up to do your research first before making any move on this type of environment, time is a really big factor also. I believe timing is everything but in order for you to learn little by little don't just believe on what you are seeing like news or any other hypes. Do your own research in order for you to evaluate the information that you are getting. I believe we are all thought by our school mentors to conduct research first whatever major we are in.

one more, you must know when to cut loss and when to buy back again when dip is coming...trading is a fun, enjoy the waves

Of course it is! and the more time is spent on the exchange, the more experience we get, even on our intuition!

I'm not saying that spending a lot of time is a bad idea. You need to spend it wisely.
There are people who spend a lot of time and can not find a good deal, and can make a mistake. It's not easy to spend a whole day at the computer watching the charts, from personal experience.If you do not have such a problem then it's good.

Yes you are right this is one of the most important trader qualities about this I think everyone should know.

Very good information for all especially new trader as this will help them if they follow the precautions very well avoid loss. Above all, take time to do your research about a coin before you invest in it and be sure of the strategy you want to use in terms of holding and be very patient with decision making as it will help you avoid making mistake.

These are very good tips. We also need patience and discipline to stick to our strategy. When the price of the coin you have invested in have reached your target price, do not be too greedy and hold it for too long - Profit is profit. When the price of the coin hits the bottom or below your entry point, make sure to trigger the stop loss. The crypto market is all about the strategy of each investor.

And only invest which you are willing to loose, Don't be greedy  when your investment goes 3x take your initial investment out in that way you don't have to worry about the price as you are already in profit. Only opt for day trading if you know what you are doing as its different from normal stocks trading its highly volatile...

There is not only five tips in crypto trading but many. You just have to be patient to try to implement them for better result. However, if you rush things up not only in cryptocurrency trading, the outcome will result in a mere bad output. So don't rush things for good result.

patient and hold, research your tokens before buying anything

Good share. Right exchange is really important. Including security, good rate, low transaction fee.

Read news but don't blindly follow them.
Make your own decisions.
Learn to read FUD and learn when is right time to buy.
Read, read and read.
Don't trade with emotions.

yes right exchange is some thing matter because their are huge number of exchange some of them are centralize and some are decentralize we should go to secure exchange and to choose those exchange in which huge number of traders are doing trade like this exchange we can clearly say that exchange are secure.

If all this time you used to set aside the remaining salary for savings, this time try to set aside salary for savings before you use it for everyday purposes. This is useful, to suppress unnecessary expenses. or if you invest try to increase your investment.

tips that are very useful for beginners like me.
here I am many degrees about the views and ways of trading in the world of crypto. I believe cryptocurency is the future that will be in the interest of many people in this world

I think the third and fifth rule are very important for every trader. Indeed, you never need to panic, because panic scares money.
It's also very important to choose the right and safe exchange, because there are now many fraudulent exchanges.

maybe this kind of information is expected by new traders, and indeed we should do research and research first, before we buy one altcoin to make investment or trade, there is no other way than we have to remain patient to keep the coins we have at the moment the price is on the downs, and most of the new traders when the coin prices they have on their downs in panic and make the mistake of selling the coins they have, which in the end make them have to suffer, defeat.

  In other words, one should invest only the amount that is not needed in the near future for consumption. It is not just the money you are willing to loose. No one should be willing to loose any amount and should rather enter the market with perfect knowledge and information to earn good. Investment in coins with good market reputation and price stability renders you earn good and loose less.

It is very important that novice traders read and study serious literature. No, I'm not against these five or 10 steps for beginners. But this will not give absolutely nothing to a man who really only started trading on the stock exchange. And I highly recommend reading the main works on the economy, cryptocurrencies, technical and fundamental analysis.

One thing more. Focus on what you are doing. Dont be distracted by anyone or anything that makes your decisions change spacially to those people who doesnt know cryptocurrency and just bragging things about it. Trust what you are in your mind and always control your emotion.

very useful tips provided much necessary to follow all these tips while trading cryptocurrency

the main factor in the cryptocurrency trade we need to do is have extra patience to avoid unmindful in taking action. because sometimes if we want to sell back the coins we trade must wait a long time to be able to get a bigger profit

Well, you must understand that trading in cryptocurrencies is not an easy field to earn a large proportion of money in a short term and a simple way and IMO before starting in this area you should learn the basics of trading, you can read some useful books related to crypto, and they can help you a lot especially when you are a beginner.

On the other hand, you must learn how to analyze all the situations on the market (Big drop, pump..) and you should deal with them in smartest way and without rashness. Plus, patience is the key of success in trading, so you must be patient, especially in a difficult situation (like what happen is this period), and do not rush to make decisions.

In fact, the weak point  of the majority of traders is the greed and regrettably, it leads to significant financial losses, so do not be greedy. Moreover,  taking the  risk is essential in order to earn a lot a money in trading (Big risk , Big gain ) . And fear is one of the biggest obstacles which lead to bad consequences  .

5 tips in my own experience that is
Investments should not focus on a single field or a digital currency
The second is that you have to know how to trade as well as avoid the trading platform does not trust
The third is that you think carefully before deciding
The fourth is that you have to calm down self-confidence
Fifth, do not put absolute faith in anything

How sad that this is my weakness. Reviewing and focusing on charts everyday but it isn't enough and it makes me feel uncomfortable. On a blink of an eye, I just missed the profit I am targetting with one wrong move. Anyway, this made me think that I might correct and refrain myself from being paranoid and obsessed with the charts and everything.

very helpful information, I am a trader on crypto currency is very much that I do not know when I will trade. with this information may be my provision to be a better trader

I feel a lot of things that you have mentioned here are easier said than done. It is practically not possible to not freak out when the market turns red. Everyone has reasons to feel worried. It takes a lot of experience and practice to not freak out under such circumstances.
Apart from the tips mentioned by you, there is a different side to this story. Not everyone who does trading is an experienced fellow. I am sure that a lot of them are 15-16 year old teenagers. They will not follow such advice and would blindly sell their tokens the moment they see the slightest of fall in prices. Even hardcore and experienced traders fail to implement this.

6. Don't create a new topic with old content the same with so many other topics in this forum already. I think you guys should read first because there are so many threads about tips for trader or investors, blah blah blah and seem like all of these threads are useless cause all traders or investors already know about these tips right at the start :)

I would also like to add some important tips to your list. First, always look at the market capitalization and not the price of the coin. Many think that they should buy ripple as its price is relatively cheap to Ethereum’s. Second, crypto trading is not just on a daily basis, but on an hourly basis. It’s not everyone that can play this game. Nevertheless you need to consider the amount of time invested in the process

I am quite impressed with you, a funny guy! These topics are constantly posted by members with small rank, this is also a way to maintain their account activity.

All that OP highlighted actually fall  on the basics of trading, so for anyone to dabble into trading without a good standing in them, is their water lo. I would like to add that a newbie have everything to gain by taking their eyes off what they could earn in the short run, but instead throw their weight behind learning now to be able to earn and without cease later.

I'm particularly concerned about pump and dump coins. Some of these projects may not have a working project and yet they would hire so-called crypto experts to cause people to rush for their coin which ultimately do not succeed so prices continue to plunge.

Exactly, ive seen several threads with the same topic as these. Its more like narrating his life with cryptocurrency trading experience. These are just basic tips and youre right again , everyone who engage in trading knew these stuff.

Yeah Choosing the right exchange is very important where there is active traders is more better than relative quite exchange that makes you sell very low

Maybe I repeat and once there were such topics, however, many newcomers come to the world of crypto currency every day and it will be useful to know it.

Number 1 should be:

"Never go all in"

good advice, i would like to share the mine experience, but there 50 and not 5 lessons lessons, if you have time check it out too

https://bitcointalk.org/index.php?topic=3217824.msg33457528#msg33457528

Another tip which is very important to be in the list: do not be greedy.

Greed could compromise the "should have been the profit". A smart trader will have it's "exit price" and "loss price". Exit price is the target price or percentage of gain before cashing out. Let us say you bought xxx for 100 satoshi, your target profit is 10%-15% so when the price of xx reaches 110 satoshi, you can decide whether to go out now since the target has been reached or you'll wait for more let us say 112 satoshi. A trader should be disciplined in placing these targets. The loss price, on the other hand, is the price or percentage of loss before going out in order to cut losses. This is self explanatory so I am not gonna give an instance there.

Waiting too much could make you lose opportunity so if you are greedy for huge profits then you are taking huge risk also.

I think a lot of people are gullible with tricks,
and tips to anticipate this we should be more careful ,. because'
Altcoin has recently had many missing starters, in the desire to recognize the new bitcoin, has hurt many cryptotraders. Many altcoins that enter the marketplace, are completely unsuitable for long-term investments or are a boost at all. and
we must be good at choosing the right exchange.
No less fast growing and the number of exchanges, Many people want to captivate you with interesting terms, but you must understand that for them there are certain risks, It is better to start working with proven exchangers that are used by most people.

The second point can be debated.

Trades are time consuming. You need to keep a watch on markets when you are in a coin. You just can't let your trade sit. Every market movement dictates a new curve and a future projection. If you are into trading, then you have to devote your time into it.

6th tip. Never put all your eggs in one basket. Diversification is the key to minimizing risk in the crypto market. 7th Tip: Never and ever regret when you sell coins and later see it been bullish.

Good tips. Just add up patience, because some traders lose their opportunity at a better and more profitable price because of impatience. I also believe that a trader must not devote it's whole day just to look at the trend and market demand. Live a life, it's good to earn through cryptocurrency since it's an easy task to do. However, we should still enjoy our money out from our income from crypto.

Yes your right and if some are like that I would call it an crypto adik. One must control, the option I see that one must buy or invest on the amount that you are ready to lose because it is a investment no one know the outcome in one click investment on cryptocurrencies.



A good suggestions I dont know traders who spend to much time because as I know before getting into trading one must know everything but still you suggestion (tips) is good for newbie traders.  Also to add up I cant speak on all of your idea for this number 2  because some sentences I read, its just I don't get it.


I would like to summarize and get to the point of being a trader, this Do not panic just hold when outcome investment do down. Wait for it to rise


I would like to say that this is also a nice tip but for a first time trader you can not avoid sometimes because when a trader do something and make mistakes for picking altcoins its not there mistakes because when you are a traders and pick altcoins it is a gamble to see the possibility of negative or positive outcome.


.


Right and as for me one should make research because there are many exchange site that give high fee and yes pick an exchange that is common to many traders

Becoming a crypto trader is not at all an easy thing to do and that you must put in lot of efforts to perform in a way which can then help you in making of money. The most important thing which you need to do is that you must keep on learning new things and to do so, you must take out sometime out of your busy schedule. Learn the strategies which can then help you in becoming a better trader.

It look like none of you says the we should not be greedy at all times. This is a very alarming emotion of all traders even busineman and employee arr being trapped in this type of emotion. Sometimes when the price is allol out high in the market, trader demanded even more to get a higher profit, leaving them vulnerable to a greater loss. That is T.A and F.A should not be taken lighty because it can help you decideing when to sell or buy.

very often the obstacle I see is too panic with their market and cannot be patient in taking decisions. This is actually the basic problem but is disregarded when the panic is already messed up their minds. panic selling when the price drops will only result in losses and that's what precisely do many traders when pricing a crypto down.

Patient and don't panic has a big importance during trading. Although above lists mention serves as tips to cryptotraders which really should adapt this techniques to traders. It is not easy to do trade it really caters knowledge, patient and determine to earned.

I would rather go with the second and third tips. This is because these two tricks lead you to the economic stability. Not spending too much in the start because spending too much in the start sometimes results in loss because when a new guy enters the market, the assumption of perfect information is often no met.
Also when one sell coins when the market is red results in loss. And this contributes even further to the red market.

Of course it's easier said than done. However, if a person can not master the trader's qualities, then he will only lose money in this market.
If the trade does not fit better not to trade. Trade is not for all people.

#Top300
Just a quick reminder to all of our community that soon we will release the beta version of the professional trading terminal for cryptocurrencies - our very own Tradelize Terminal.
And that means we are about to launch an epic-battle royal amongst pro Traders.

At the end of fund-raising Tradelize will select the top 300 traders from their blockchain-proven records and transfer 80% of the collected money to those traders for management.

🎉The top 10 traders will receive up to $ 500,000 to manage.
🎉The top 11-50 traders will receive up to $ 100,000 to manage.
🎉The top 51-100 traders will receive up to $ 75,000 to manage.
🎉The top 101-300 traders will receive up to $ 45,000 to manage.

50% of the profit from the management of this capital will be transferred to the trader!

Registration will be available very soon so stay tuned for the updates.

I don't think your point of view is of much use. These are the basics. If these are not, it will be in disorder. If these do not understand. So I think it may be a bit of a problem with IQ.

tip is very good. especially point number 3. never panic and decide to cut the losses because it will only worsen the situation and will cause regret in you
and other tips are very useful for me as a beginner

Much appreciated

Good advice. The main thing is not to be a hamster, but to become a whale.

Good advices. For each trader, this can be a different set of rules. For me, the main rule is to follow my rules when trading, as often I do not follow my plan for position ;D

most ordinary people do not have trading skills . the best strategy is to hold good coins for a long time . it is best to choose the top 20 coins . except for ripple , it is a centralized coin .

Probably the first tip that you give is the one which is more difficult for people to apply, there are so many cryptocurrencies that people get confused about which coin to buy and then they try a shotgun approach to invest, they invest in as many coins as possible hoping that some of them skyrocket and earn money that way when they should apply the sniper approach and only invest in the few coins that are worth your time and money.

all your suggestions and tricks may be useful for traders who have not yet understood trading, and all you suggest is certainly not an easy thing for everyone to do, let alone to avoid panic and patience, that's a very difficult thing to do everybody , because a trader knows the market movement is very panic and can not wait to sell or buy what they think will be profitable for him, so indeed a trader must be able to control the emotions of panic and patience, that is very difficult for him to do.

The most important advice is not to invest everything in one coin, it is very important, don't neglect these rules.

And now all our appreciation to the Captain Obviousness, Major Obviousness and General Obviousness. ;D But this one - 2. Do not spend too much time on trade! is really good. Do not be hard. Relax.

Trading is a mean and complex game where you have too many odds to go broke or become nervous as hell  ;D I'd prefer to stay with medium trading (not scalping or daily trading) it will not require you to stick all time to the graphs.
And a tip - no more than 1-3% of budget for a single deal ( if you have 10-15 deals a week).

This is true. It's the same i did. I go all in on TRX. I very happy because i gained so much profits the time TRX reach it's all time high. I was so happy that time. But i didn't sold it before it started to drop. Im very frustrated that time because it dropped suddenly and never go up until now. It because of my greediness. Also i never diversified my money because i go all in often. So when you're trading, don't be greedy and don't go all in on one coin because once it dropped hard. It's very hard to recover unlike diversified investment. You can recover quick.

many of us has lose money in cryptocurrencies by violating most of this tip  that was drop by the op.  I think we are going to have a nice time in trading cryptocurrencies in future and being careful before investing will safe us from the activities of whales and skillful traders.

Good point about exchanges. You can find more about them in this thread:
https://bitcointalk.org/index.php?topic=3364100.0

This is one thing but for me the most important thinkgs to know is that, don't invest when you have no idea about the project. Don't listen to a hype, make a study and trust yourself. Beginners should not make a move that is only base from the suggestion of other people. This is cryptomarket, a lot of hype people and if you don't make effort on that you will probably trap on a shit coins.

  Nowadays trading is very risky business, the market is too volatile. My investors are looking to the perspective ICO projects and I found it. We will invest to the Kelvin Blockchain. Kelvin Blockchain project itself is flexible to implementing cryptographic algorithms which will make it one of the safest blockchains ever existed with 10+ signature available from the start. This project does not rely on any particular signature algorithm and due to the multi-client use - on some single consensus. In case of any problems, it is possible to quickly locate the threat and prevent it’s distribution throughout the system. Moreover, all the blockchains will be processed in one wallet so that the client could have fast transactions, secure investments and cheap smart contracts as well as a lot of other services at his hand. You can read more information about the project here: https://medium.com/@kelvinchain/the-post-quantum-era-of-blockchain-todays-solutions-for-the-world-of-tomorrow-16bdd970f49a

I would add: do not be greedy! Greed is a bad helper for the trader. 7-10% very good price change for the trader. It is better for 1 day 2 times to take 7% of income than to wait 14-20% for some time. Even on the fall, you can take 7-10%.

Diversification is very important in trade. In addition, the use of some good commercial support tools such as FTEC is a turning point for traders who want to experience a more professional and effective utility.

Good tips and the tips you have given really would help the new investors who are eager to trade in cryptocurrency market. Apart from the tips you have provided I would like to add that the investors need to observe the potential of the coin by validating the team behind the coin and the advisers for the project. Then, they need to look into the graphs and trend of the coin in past and need to buy those coins when the price is really down to earn some good profit, do not buy when the price is in peak.

good tips
Patience always pays

I love the second and third tip for the traders. Spending in the start is foolishness. You spend too much without having much of the market experience.

This can be fatal and can incur you loss. The panic decision also incur you loss and if it is a red market, it further contribute to the red market and price fall. I will add further that a trader should be rational in making decisions that determine the future profitability of his portfolio.

Thank you for your good advice. They work! And how do you feel about System trading, signals and robots? Now a lot of talk about the fact that the strategies that were developed even a year ago, focused only on the rise bitkoyna, do not work.

Especially agree with the exchange tip. If your exchange doesn't add new tokens, just leave it. The lifecycle in crypto is very fast and most growth coins show in a first year. Also when trades don't show volume you can't do the proper analysis of what is happening on the market.

Yes, focus on a few tokens, and you'll see the rules that they may have.
Don't panic, however, especially if there is bad news in the market. ;D

This are very good steps for intending traders to follow and even traders who do not have enough ideas of trading. If this steps are followed appropriately, it will help to make very good profit at the end.

"Fear and panic are the two biggest enemies of every trader" this noted because it's really happening continuously with me.Also i'm panic seller when i heard any bad news about market than i try to sold my token with very low rate from actual rate.I trade in Bittrex,Hitbtc & sometimes in Binance. 

What we really need is o be skeptical and resourceful in every coin we have, it doesn't matter if we do a day or holding system, but if we did research on our coins then we can at least think of their earning at the right time.

Definitely right, that is the two reasons why you have a high chance to loss your money, if you know how to control your emotions i'm pretty sure that you would become a successful trader. 

The most important advice is not to invest everything in one single. coin, this is very important, do not neglect these rules ever. :'(

i wanna add one tips. pray! we also need miracle from god. beside our effort, we must pray in order to get profit in trading. moreover, praying also can make our heart peaceful

Trading is a profession which demands two P’s: patience and persistency. Without these, it is not possible to become successful in the field of trading. Actually, even staying in this profession would become impossible after some time. Moreover, if someone is not good at controlling emotions then at least he should not give up. With time, he will become patient as he will learn things.