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Yes, everything takes time and time to practice patience to keep waiting. Those who have enough money outside of crypto assets will definitely agree to hold it, even with years it doesn't matter. For those who only have limited money in their pockets, they will sell crypto assets little by little and don't care about losses anymore. this is a bad decision in trading, but because of circumstances forced to take this decision. And for me personally before deciding to trade, always prepare myself to avoid financial problems in everyday life. So I don't need to rush if the market is being dump.
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The risks you describe are too sharp, for beginners to make them hesitant not to use Bitcoin. For me a big risk for those who just speculate No knowledge of the market. Talking about risk Without laws governing Bitcoin this is not a problem because Bitcoin is not part of the government, meaning Bitcoin runs by itself. and it is highly unlikely that Bitcoin will disappear in the future.
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Hello everyone, I just got introduced into crypto by a friend and would like to know how do I go about doing it. Have went through lots of tutorials from different places but did not quite understand how to use them and what to see. That's when I thought a forum would be the next best place to place such a question.
Dear friend, welcome to the crypto world and to the Bitcoin forum. (1) The first thing that will help you to understand the basics of crypto is patience! You need patience because it will take your time to understand crypto in-depth, without patience it will be hard to understand and you may hate crypto. (2) The second thing is practice. You need to practice what you have learned so that you can have it on your mind FOREVER. There are many crypto software that will help you with this. You can search on google but I also recommend Trading view. (3) The last thing is plans! Before start trading, you must know why you trade, what amount of capital you want to start with (I recommend small at the beginning), which coins/tokens do you want to trade, and etc. There are many basic things you must understand before starting to trade, but for now, you can start with those 3 and later you will become a PRO automatically. Goodluck! I will add one more thing, namely "Management" traders must have good management in trading. Management is the most important factor in managing profits, if start with a small capital then some of the profits fold for the next trading capital and some are enjoyed as a result of trading. And don't be greedy, because in the next trade we will not be able to ensure the same profit as the trading at the beginning. So at least you have enjoyed the trading results. |
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Trading in crypto is the easiest job to do. However, all require skills and market knowledge. If we don't have skills and knowledge there is no point in wasting full time every day just to trade because losses always come quickly to us. Success is determined by mental stability and skill, not by sacrificing all our time each day. I spend the night analyzing the market and the day I do the main work.
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An excellent post to talk about, I was thinking to post like this but you did a very good job. So, i would like to tell you about holding which comes to every trader in a form of patience, the more patience in trader, the more chances will be there for profit. As i want to say that getting profit is not that easy but taking some risks. So, i would prefer the day traders to give much time to trading.
Yes, holding will come to every trader, but do they decide early on to invest? I don't think so. Every trader has a profit target, and it is not easy to get it. They have to be patient in order to get back the losses due to the dump market. But not all traders are able to be patient with this, so it is very important to have other savings for urgent needs and not to sell their assets in crypto. |
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Stop loss is part of risk management, but with various market manipulation issues, it makes me less confident in applying stop losses, in fact their effectiveness cannot run normally. Experienced traders do not make stop loss as the main management to minimize risk. And some of the other strategies they use are based on an analysis of how market forces tend to rise and also based on the laws of the market.
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I'm not so sure of trading in the medium term, no one will know future market conditions. If you make an investment, you must set your profit target, it is indeed difficult to achieve the maximum profit target. But at least you've made a profit based on your target, meaning that as long as the market goes down which causes you to lose if you open sell, the last solution is holding. For Altcoins I recommend BNB and ETH.
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And for sure holding will be the majority of choices here.
In Mining there are a lot of factors to consider, obviously you should live in a country wherein electricity is quite cheap, and then the space itself and the mining gear, as far as I know it's hard to acquire the hardware currently.
So in the long run it's better to invest and then hold for long term. Less hassle on your part. In any case, this tool might be helpful for those who want to try mining.
Yes, I agree. In addition, mining also requires more costs and the time used is also very long. Readiness in waiting to be able to return the capital that has been used to buy mining equipment and maintenance costs are also more complicated. I think doing holding is a good idea instead of having to do mining. |
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I'd want to provide some guidance, particularly to individuals who are new to the market. You think you should buy in ALTs whenever the market is rising. And it's possible that you'll gain from it. However, the market drops after you make your investment. When the market falls, you believe you are losing money and sell everything. When you watch the stock market rise, you invest.You will continue to be harmed in this manner. As a result, anytime you need to invest, put a tiny percentage of your portfolio into it. As a result, even if the market falls, you will still have your portfolio. Never trade based on your emotions. Calculate carefully before investing.
If this is the way of trading it will never produce good results and I believe it has absolutely no skills in trading. Buy and sell based on analysis with trading knowledge. Everyone jumps into crypto with the aim of profit for financial freedom, what is invested is money from hard work not free money. Mental stability, managing emotions well and knowledge in trading are important factors for getting into crypto. |
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China very often makes bad news about Bitcoin and Cryptocurrencies, and usually this has a big impact on the Bitcoin price. A big drop is imminent, and this is sure to be used by the big whales to buy Bitcoin in bulk. Our advice if there is a big drop in the price of Bitcoin, we don't need to panic and don't sell your coins cheap.
Remember that this kind of incident doesn't just happen once, and after that the Bitcoin price will definitely go up again. Keep calm with bad news like this.
How many times did China make a move like this and yet, bitcoin thrives? Bitcoin may drop but it will go up again. They are not the determining factor here whether bitcoin survives or not. If other countries are more welcoming with crypto, it seems that China is moving backwards in terms of crypto. Anyway, crypto activities will move forward even without them. That's right, China doesn't have the slightest influence on crypto. The fact is that until now the opposite has happened to China that China is lagging behind in the development of crypto technology. Crypto stability is not determined by China, unless countries around the world issue rules not to use crypto, this will have an impact on the development of crypto. But this is impossible, the evidence is that El Salvador has made Bitcoin a legal tender. |
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Beginners should know the market situation and knowledge of crypto and how to trade properly. They have no money to trade and borrow to trade, this is not a good idea. They have put trading as their main job, but their income here is uncertain and the risk of loss is higher. It's better if don't have enough money, so be patient, there will be opportunities in the future to trade and be able to earn by trading. Do not do things that bring harm in everyday life.
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to many bad experiences.
and to think that i was about to overthrow the eur and usd in favour of crypto, whenever someone would want to do the same they would have to get throught me first.
As the saying goes "experience is the best teacher". take a bad experience as a lesson in the future, you don't have to regret it let alone leave crypto. Successful people crypto have also experienced bad things in the past but it is because of the belief and consistency to always improve and practice their skills so that they are successful. The key is that you have to wait long term when the dump happens and don't panic, because panic only makes us make wrong decisions. |
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Not everyone will focus on trading as a real job so if you have to decide that crypto trading is for you then be equipped but also be ready for lots of loss while learning.
Watch a lot of youtube tutorials, I really think it helped me a lot and at the same time not going into risky futures or margin trading. If you have a Plan B when you are not going to be a successful trader, work on it too as a fallback.
Agree, trading is not the main job. Trading is only a side job if have completed the main job. If beginners often go bankrupt while trading, it means they have to go back to real work while learning trading education. What beginners should know is that trading risks are very vulnerable if don't have trading skills. Apart from trading there is a real job and Invest a small part of the monthly salary to trade, so lack of capital is not an excuse because trading is a side job. |
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Hello community of traders, am stock between the line, lately I have been trading in meme coins and have mastered some skills I developed. But this very moment am holding these meme coins and they both have done x price increase within the last few days and am thinking of converting all my portfolio to a less volatile crypto token and I don’t know which is the next big thing in the market to hold for some time?
There's no such thing as less volatile in crypto, even bicoin can be less or higher with 10 to 20 % within the day. What i like about the idea of trading meme coins is that even in a minute or an hour you can possibly gain x2 to x5. If you are too much worried about it, you better convert you gains now to a fiat money. Less hassle and less stress but of course no more gains. That's right, in a short time we can get many times the profit from meme coins. However, the risk of losing is huge to invest in meme coins. we have to get rid of the mindset of getting big profits in a short time and focus on investing in Potential Altcoins with lower risk opportunities is a good course of action. And patience is the key to success in trading, all decisions should be taken very carefully. If stop profit on meme coin then make profit on Potential Altcoin. |
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You have earned X2 profit from the result of the first trade. Thus diverting to trade in other coins and resulting in losses. Actually this is a natural thing for a trader, profit and loss is something that cannot be avoided. But you didn't say clearly which coin caused the loss, so I can't say for myself what steps to take. If I make a suggestion, if the altcoin you are holding is a potential altcoin, you should hold it for a long time. there is no need to panic with the downturn that occurs, but you must have enough patience to wait.
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We cannot judge whether Bitcoin will exist forever, and it is difficult to know how it will develop in the next few decades or hundreds of years.
But now with the popularity of the digital economy trend and the development of cryptocurrency, more people continue to learn about Bitcoin. Bitcoin brings people freedom and many benefits, and people's consensus on it is constantly strengthening, and more and more people choose to invest in Bitcoin.
Bitcoin has been a good asset in the development of more than ten years. It also has a positive impact on human society, and it will also have a lot of space and potential for future development.
for the next hundreds of years it is difficult to predict, but I believe Bitcoin will continue to exist indefinitely. Bitcoin has built people's trust, as you said there are so many positive things that Bitcoin has given to society. many people regret having underestimated Bitcoin in the past, what is happening now is that the financial freedom has been given to its loyal users by Bitcoin. So I think predicting too far is tantamount to going back to the natural age without using technology. |
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My worst or siilly mistake when I started I am new to this I always thinking in a greedy way and my plans too (greedy plans) I invest a big amount just for return profit and i dont have patience that time also lack of knowledge about Bitcoin.. And i lost all.
So don't panic, have patience, learn more about Bitcoin, don't plan in a greedy way, invest small amount on first investment.
You have to learn from your mistakes and make the worst experiences a lesson for the future. As the saying goes "experience is the best teacher" so even though we know a lot about the state of the market if it is not accompanied by experience, we may also take the wrong action. Greed only makes us regret. so get rid of thoughts of sudden riches, all must be passed with patience. |
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What I thought when I entered crypto and started investing was that I was ready to take risks. This means that risk is the first thing we face, if we only think about profit and profit, we don't have mental stability when big risks come suddenly.
With the main capital of $ 50 this is a good first step for beginners, for me $ 200 is my main capital if starting a new trade. Some trading techniques to start with must be thoroughly digested according to market conditions, long-term trading is a decision if there is a dump that occurs unexpectedly.
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I don't think holding 80% of your salary in bitcoin is a good move.
Considering your daily needs and how to go about getting them met.
I think what you should do is get your salary in whatever currency you use and invest a reasonable amount in bitcoin. Start small, risk little.
Bitcoin should not be your primary currency, at least for now.
At least do the steps as you say. Daily necessities are more important than making large investments that exceed 50% of salary. 80% is a big number at any time there may be an urgent need so have to make a decision to sell it when the market is still experiencing a decline, this is a big risk. So the importance of diversification before deciding to invest. |
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Starting an investment with a large capital and not having knowledge of market laws such as "Supply and Demand" makes a beginner quickly panic. The first and second points are the main factors causing losses. not only beginners, old traders also have to change the get-rich-quick mindset and volatility as a benchmark for market conditions before investing. With market conditions that can't be predicted with certainty if using isting then losses are very close to us.
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