Bitcoin Forum

Hi. Please allow me to go back to basics. I just wanted to share to the newcomers here in the crypto world that, in trading, you only have to invest what you can afford to lose. Luck doesn't happen every time so don't be hyped and spend all.

I knew that there are traders who are more experienced than me, and I keep learning new things every day and I don't consider myself an expert. I just really wanted to share what's on my mind. Lol.

Bitcoin, for me, is not gambling. But your thoughts and actions are what you gamble. If you don't want to lose, make yourself knowledgeable. Do further research on how to get good profit. Knowing how to read a chart is one of the best ways I can offer. There are certain indicators that can really help you get good profits. Well, not everyone has the energy to learn that practice, so I also suggest that you follow experts in this field. When I was starting, I barely had an idea in crypto trading, I was like a new student studying new culture. So I look for a sensei whether he knows it or not, Lol. Choose someone you can really trust. Whether it's an expert on your twitter or on Facebook who likes sharing updates regarding his views of the market. Or even a guy or gal on YouTube. If you can't read the chart let them read it for you.

There you go, these are some thoughts I have in mind. I'll try to share some tips soon. I know that the awareness of Bitcoin to newcomers are increasing. I was vulnerable in trading when I first try it, no knowledge, no experience, no indicators, just gambling. I learned from all those mistakes and sharing some tips can help newcomers not to experience the same thing. But as what wise men say, "Experience is the best teacher." Good luck, folks!

What do you think? Share your tips too. It will be much appreciated.

Yes thanks for your suggestion and I think this will really help the newbies.  What I would like to add with this is follow a strategy for dealing with bitcoin and gather knowledge as much as possible. This will really help.

Nice advise but I also like to add that, whatever we read is theory. We have to put it in practice first before we fully commit to it. If we put our money without practice, we might still have same problem OP had.

then don't do it!
it is like saying "i don't have the energy to practice and do the routines for the match so i am going to use drugs and then go compete in the race"!!!

in my experience this is a terrible idea.
first of all there are no experts in the field that are going to let you follow them. they don't want anybody following them. they just want to silently make money without anybody knowing.
those whom you follow are usually idiots trying to get you to pump some altcoin so they can dump it.

Bitcoin is leading the whole crypto currency market. Thanks for the informations and advices that you gave. A great help for the new investors of this field.

Nicely explained! I agree with you that for bitcoin trading doing research and gathering of knowledge is very important. Otherwise, in future, you may get into trouble.

truth


you gave good advice, but you know that even reading these charts is still very difficult to predict prices, you have already read the forecasts of many people who consider themselves experts and to this day no one is correct in predictions. so it's difficult to predict prices even though someone who knows how to read the charts.


I think it's all a bad idea


I think the person should learn how to search the internet, watching videos on youtube and reading books and practicing with small amounts. Just like you said: "Experience is the best teacher."

Everyone has their different experiences some good and some not too good, I started out on what'sapp group where someone gives idea on what he thinks about the market and sometimes post free signals to everyone and the results of the signals as well. Funny enough most of the signals I used landed me in losses, cos the coins I bought with the signals never got up near the positions I bought them until I had to sell it out in loss after several months. But when I tried to study a bit more about the market and the signals I found out that some of the signals were either too late or too early, which made me to ignore the signals and continued to research things on my own until I learnt how to use the inductors on my own. That was when I began to make profit in trading

bitcoin trading is about repeated buy/sell to increase amounts.

lesson one
dont put all your eggs in one basket

lesson two
never sell at a loss

lesson three
never risk amounts your afraid to lose
..
the best aim is to imagine how much you waste on novelty stuff. such as fast food or clothing you never wear more than once. EG if thats $30 a week then give it the total of $1560 a year investment.
think of it as $1560 that ends up as a bowel movement in the towlet the nxt day after spending. or as a $0 rturn handout to someone else /clothing charity
..

when trading dont throw the entire $1560 on one order. break it up into lets say 3-10 amounts.. for this explaination ill  just use 3 to save time
$520 buy bitcoin. if the price goes up. great instant profit. if it goes down. dont sell. just leave it alone..
and instead wait for the price to drop enough until you think it may go up again and buy using the other $520...

$520 buy bitcoin. if the price goes up. great instant profit. if it goes down. dont sell. just leave it alone..
and instead wait for the price to drop enough until you think it may go up again and buy using the other $520...

..
the aim here is to look at daily, weekly charts and see what kind of movements happen.. dont be tmpted to go all in and hop to see a 200% spike the same day. instead if each day averages a few 2% changes. then aim to buy and sell at 2% instead of waiting for the 20-200% spikes

eg when the $520 gets its 2% rise. sell it. thats $10.40 profit from that one order per day. and if you manage to have all 3 orders in play thats $31.20 a day... which over a year is more than 200%

..
thus your not risking and waiting for $1560 for a year. your instead rinse and repeating $520 amounts multiple times for 2% which soon add up

key here is dont get greeding wasting time waiting for 10% when you can jsut as easily risk less and get multiple 2%'s in the same time whi

I agree with all of your suggestions that this is very useful for me personally because I am new in bitcoin trading and still need to learn a lot about how to trade bitcoin in order to make a profit.

The best to do as a beginner in bitcoin and you wanna invest is to learn from those who re ahead of you in the business, though there is no how no how as a beginner you may and you may not fall into scammers which as happened to me several times, and again when invest as a beginner invest with litter amount you can afford to lose, so you won't fall at once , and before you invest in any platform make enquiries on it very well

nice

These are good suggestions and threads and I will try to do as you suggest, because the science I have for bitcoin trading is very small, maybe this can help me find a bit of profit in bitcoin trading.

I can't see the reason why you can't comprehend the ways of a newbie. Newbies will always be hyped by everything they see. You cannot stop that. The only way that they can learn is through mistakes. They will not listen to reason. In short they are unreasonable.

I totally agree with you basically
Must be based on science and study and not just a stroke of luck
It is also necessary to fight greed and greed because everyone who thinks this way loses in the end
It is also necessary to trade gradually starting with very small amounts and in the maximum cases
The amounts you trade can be borne by losing
Do not borrow to trade and take rent and treatment to trade
These lines of red do not touch

good

When I first started out in the crypto world, I did not care about the mistakes, which I knew were profits. so it's true what you say above. when we are in a state of profit we will not care about those things, which can make sense is just a mistake. so let him in a misunderstanding he learns.

BTC is the one of the best crypto currency based on this its not gambling also in market altcoins are not also based on this statement you have share good points but you should think about the investors also who are new in market based on this it may helpful for new investors.

I just joined in bitcoin.bitcoin is a very good trade because it helps us to generate high profits then I am interested in joining in bitcoin

Mainly this is a good initiative also based on this question you suggested really good advice to the new investors because they should learn before invest and they should know the proper steps which is related with btc because some are believe in propaganda and this should be reduced.

Always have a knowledge before doing anything, for newbie trader, better if you learn about fundamental and tecnical analysis first before start trading

Thanks for giving some knowledge and advises I know that it will appreciate of all people here specially the newcomers. All what you said is true. The most important thing that we need to know before we involve in bitcoin trading is we need to set to ourself some limitations and always remember that before doing anything else we need to be much knowledgeable so we won't be regret in the end.

Base in my own experienced in trading, I could say that trading is very hard things to do because in here I considered that there is no expert people because all of us are possible to experience losses in just for doing or making a simple wrong decisions or mistakes. Just keep to our mind that in trading there is no stable so all we can do is only predicting what are going to happen in the near future. So having limitation to yourself and  proper discipline is  very important thing that we need to ourselves. The most important thing is before we start doing this, we need to have a full knowledge about it so we can avoid from any possible losses.

Well, that was a very helpful post. The guidelines are very simple and straight to point. It would help newcomers to understand more about Bitcoin trading.

My advice will be for traders to start small and then to reach ROI first, so that they can trade risk free with profits and not their own money. I started with $400, when the price of a bitcoin was $387 and I worked my way up. You buy when it is low and you sell when it is higher than the price that you bought it for. It is really as simple as that.  ::)

Lesson 2 : Never Panic Sell, because the price always goes back up.  ??? <Well, based on previous history.>

Thanks, very much informative article and learned a lot too.

So, greatful to you for sharing this kind of informative suggestion for us.

Thanks sir for helping newbies like us by giving this kind of helpful information.

To be honest, I am against encouraging directly or indirectly to someone for using Bitcoin. As a Bitcoin user, our job is to let other know what Bitcoin is all about at its core and hence we should focus on explaining them about this technology. We should be there to clear misunderstandings of the people who are willing to use Bitcoin but they have some fear.

whatever you say is true, to take action is also very necessary and knowledge, experience and knowledge are expensive, really before we do to try or trade it is not wrong we do research first, with what you will choose to trade or invest, so you will not choose wrong, and choose a coin that has excellent potential for you to get big profits.

I don't think anybody equates bitcoin trading to gambling, unless they're completely oblivious to the truth. Bitcoin trading is based on predictions, experience and knowledge, whereas gambling is purely based on luck. Yes, you can get lucky and accidentally make predictions that turn out better than you expected, but you really cannot say that on the whole trading is purely luck. If that was the case, there would be no benefit to learning how to trade, since you cannot affect chance.

Either way, trading is simply the applied knowledge of market movements, if you learn well, you can be a trader, if you're good a maths (particularly stats), even better.

The trading strategies very simple for experienced but if you want new this trading strategy then you will need to learn some tricks for more profit and it will be very simple for all the people who interested in Trading.

I learnt everything from scratch on bitcointalk forum. Any cryptocurrency related topic that I ask here get experienced members to give me the exact answer. As I have more to learn,asking questions on relevant topics is not something I am shy off. I have treated bitcoin as an investment asset but not a gambling. Those with gambling ideas never make it far in cryptocurrency

Thanks for that part, I will also like to ship in some things that can really help as well.

1)don't be greedy when trading
2)never sell in lost
 
And as you said that they should invest what they can let go and applying these too methods you will find crypto very interesting .

I want to tell you about one cool project. It is called HelloGold foundation. They are heavily vested in blockchain technology and focused on expanding the availability of products that are targeted at helping the underserved and unbanked. By supporting in this project it is possible to support much more startups that will receive  grants from HelloGold foundation for their development. Moreover, if you join their channels HelloGold and Airdrops.io on Telegram and Twitter you will receive 150 HGT tokens  (~$2 USD).
However, you should check everything by yourself before investing :)

I am also new to bitcoin but this is a great source of learning trading because many traders are through this platform spreading the knowledge of trading among the users and that is good for us to trade with market knowledge and talent.

I don't think your second point is right. I think sometimes you need sell whenever you're in loss, so your money didn't  stuck at one coin and you can gain a profit on another coin to cover up your lost.
But remember to collect some news about your investment before you buy or sell something

thank you for your advice, your experience is the same as my experience because I do not know (not yet understand about bitcoin) every day I always fail in gambling, this time I am reluctant to join gambling, but in trading I think this is not gambling because it is an agreement between the two parties in the trade.

The basic rule of trade, without reference to the product, is to buy at the lowest price, and sell at the maximum. Being engaged in trade in crypto-currencies to observe this rule is simple, as the rates are dynamic and to invest money in some of the crypto-currencies, when its rate falls, it is very simple.

I am also a novice. In bitcoin trading, I believe that maintaining a learning mindset is the most important. People always make money in this market.

Trading is very hard thing to know and study. It is not easily to learn, specially in trading to cypto. It was true that trading in crypto is a very much risky than the other kind of trading because we all known that the value of crypto are unstoppable moving ups and downs that's why it is very hard to predict so it is much better that we should do a own research and study about it therefore we could have or gathered a lot of information and full knowledge about it.

Honestly, i really need some suggestions and idea from the persons who already experienced a lot about Bitcoin trading. How to deal with it? What's the basic steps? Or what's the right things to do? Anyone who knows, i need some information.

I agree with you this is very helpful with an easy way to trade to get a good profit, by buying a cheap price and selling a high price.

While the next issue of the news will be broadcast, the Crypto-currency can change its trajectory several times, depriving the trader of the desired earnings. An experienced trader needs to be able to analyze the market himself, and on each of the exchanges there are special tools for this.

Very True. investments in cryptos always have risk involved in them. in Bitcoin trading, it is important to understand the market trends and create a virtual portfolio to understand how your trading would go in the real world. Also understanding various order types and making trading strategies would be very helpful to avoid losses.

i am new in the crypto world thanks for some tips and giving ideas appreciate it bro

Great, nice idea in sharing your thoughts, before we entered into trading we have to learned and try to research more for us to gathered more informations and full knowledge about trading.

Yes indeed. The advice of those people who have already passed through the difficulties we need. Reading their advice, then studying the theory, we will make fewer mistakes. I have a man who advised me to invest in bitcoin as much money as I will not be sorry to lose.

I am newbie and I found this thread helpful as I start my journey in cryptocurrency. Everyday I am learning more how the system works, from basic  terminologies used in bitcoin to joining bounty and signature campaigns. Everyday has a new learning from this forum. I am now more interested in trading. And this helps my hunger in information when it comes to trading.

As a newbie, i also think it will help me a lot to understand the market and trading ways.I think to learn crypto market, there is no alternative to study and analysis, And I try to do so till now.

No problem if you are new in bitcoin trading, you can be a skilled trader if you keep trading and adding your experiences in crypto trading.
One thing you need to know is crypto trading is different from stocks trading. The price of crypto are volatile, easy to change.

I am just a beginner using this, but I am very interested in joining the bitcoin trade because it can be profitable for us to help the family's economic problems. worldwide now also use bitcoin because its selling value is very promising.

The cost of bitcoin is 10 thousand dollars - not more than a psychological level. It is unlikely to affect its attractiveness. It's already unprofitable to drop beatcoin on a home computer. Now special expensive equipment is required for this.

I do not advise investing in crypto currency if you panic, because it is a high-risk and extremely volatile asset, the value of which constantly fluctuates. In addition, you should not invest the last money here, take loans and buy bitcoins in debt.

At the moment, bitcoin consumes, in the main, very cheap electricity. Miners, pushing each other, chase after low power consumption, and anyone who consumes above average will be forced to close their farm because of a lack of profit. As a result, the bitcoin network, as a rule, uses energy where it is high and can not be stored or exported. Gas, oil and coal are easy to export, so no one is happy with bitcoin farms where it is the main source of electricity. It is much more profitable to sell these resources to the place where they will be bought for a greater price.

Reading and finding new knowledge is very important to be a good trader in cryptocurrency

Good advice thanks for your suggestion it is help for new member and I think newbie learn should be some skill for trading it is very useful for new member

Newbies should be very caution in trading bitcoin, they need to learn a lot. As bitcoin is a very volatile currency, its price fluctuates in minutes. I would recommend they observe the market for a few days before starting trading.

From my own experience on this forum, and my observations, I have inferred that newbies on this forum are usually very much hyped and in hurry to mint money. They are usually not clear with their goals and in this confusion and hurry, tend to mess up the things. There can be many reasons for this kind of confusion. They may not be clear with their knowledge of the market or may have formed a vague image of crypto world in their minds. Usually their investment decisions are all taken in hurry and end up in fetching negative results. So the newbies need to relax and take their decisions after proper research and market study. Also they should learn to stay calm in difficult times.

So you will always have the knowledge to do whatever you expect from it, I resist the direct or indirect encouragement of someone to use Bitcoin. As a Bitcoin user, our job is to let others know what Bitcoin is about its core and so we should focus on explaining them about this technology.

I see the basic rule, "Never invest or trade more than you can afford to lose". Many peoples should do this.
But some peoples want to gamble their money into crypto, causing lossing more than they can afford to lose.
Always do your diligence when investing on cryptocurrency. If you want to be a trader, you need to follow the market trend everyday.

Many thanks for the information you provided, especially the new ones like us. What we need is the best way to get the bitcoin profit.

In my opinion, the best way to learn bitcoin trading is to study forex trading. Fired has a lot of history, tools, indicators etc. Use a demo account at first and perfect a strategy. Only when you are confident emotionally ( all trading is really about being able to control emotions) do you use a live account.

I admit that this decision made by Goldman Sachspushes me more to believe in the future of cryptocurrencies. The big investmentbank decides to set up a bitcoin trading operation to respond to itsenthusiastic customers of cryptocurrency, it's great here. What I like mostabout this story is that Goldman Sachs' senior executives have come tounderstand that Bitcoin is not a fraud or a speculative bubble. I believe inthe usefulness and the future of this digital 2.0 currency. Besides, I buy andsell bitcoins on the platform Bitcinternational.com and I do not complain aboutanything. Everything is reliable and secure. So, if Goldman Sachs wants tolaunch his bitcoin trading operation, I think it's a great initiative.

For me, invest what you can afford to loose. I learn everyday and don't force people to join. Rather I tell them the benefits and loose on trading Crypto.

Almost all best practices have already been shared on the topic but here is what I can share.

Do not rush to do trading. If you are totally new in trading including on all markets it is best that try to gain experience first. Try trading using a demo account, there are many exchanges that allows you to have a practice account. If you do this you will not be surprised on how volatile the crypto currency market.

If you are new to bitcoin trading industry,
you must have a enough knowledge how to handle this kind of business to be successful someday and how to deal with it, to be able to survive.

I think that for the crypto market at the moment, bitcoin is playing a very important role. It can be seen that the market is in a bear market in the long run and bitcoin prices are likely to fall sharply this year, so I think we should not invest long term in bitcoin. But the information is only to push the price of bitcoin rebound but I think the recovery in the short term and bitcoin will continue to fall deep.

What you have forgotten to say is to warn newbies that the Bitcoin market, as well as all cryptocurrencies markets, are heavily manipulated to an extent difficult to imagine from outside. Therefore, dangers are huge, but also opportunities, as soon as you've learnt to understand how whales think and act.

You need to spend some time with a trading expert and try to manage your time. From trading expert you can learn lot of things and time management is very important in cryptocurrency trading. Trading Is not easy and you will have to work hard to be successful trader. If you have qualities no doubt you will earn huge profits from crypto trading.