For beginner trader I can only give few advise 1 keep learning about market 2 gain your knowledge about coin 3 never take margin like 2x 3x or 50x 4 keep away from taking high leverage trading
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That's a best things your can do if you are new you can stake your coin and make a passive income on it. It's not a question about new trader or old trader it's for all. Because this market makes huge loss to old or experienced trader too.
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Market is in bad condition and btc is unstable and every 200 or 300 dollars moves of btc alt making bleeding. In this condition trade by yourself is good but don't forget to put proper stop loss if you are taking margin in your trade.
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In this kind of market situation I can only say hold it in spot and sit back. Because the way its going up and down its can liquidate every long and short.
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Trc20 is based on tron blockchain and ERC20 based on Ethereum Blockchain. Now days people are using Trc20 usdt for transfer or sending someone because its cost 0 fees transaction. Which is good for sender and receiver. If you send ERC20 usdt to someone it's charge fees that's why they asking you to send Trc20 usdt wallet address.
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Almost every coin which is listed on binance driving crazy. Uni is now more then 7 dollars with total supply of 100 million. I know it will go down too. People who get free uni are so lucky. But that kind of pump and dump giving negative effect on crypto market and new people afraid to take entry in that kind of market. So be careful with that kind of token or coin.
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Crypto become a passive income but for that you need to use proper risk management in trading. If you did not use or known risk management then this is not for you. You have to have know what you holding for and what news or events coming regarding your holding. You need to buy in dip and wait for price increase. Patience is key of profit. Once you realized you are in a good profit then sold it and wait for other good opportunity that's way you make a passive income.
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Nothing is late to buy crypto and your favorite price is always come. You need to wait patiently for your buying range. You need to read chart and trying to buy in dip and if you thing price is preety hing then don't take entry in it. You need to wait for dip. Dont take entry when everyone saying buy. Always take entry when price is available in dip because when you you took entry at high you got stuck and can't don't anything untill price is recover. So better to wait for good opportunity and opportunity always come in crypto world.
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Stop loss is very important in your trading. Because when market is going through big price up or down movement then sometimes exchange also not working. Last time when btc was sump 1k All coin price was also dump and big exchange like binance also not working for few minutes which makes a lot of people liquidation of fund. So it's better to place your stop loss properly. Stop loss should be preety away from the current price because if it's close then its easily touch it. So placing stop loss also need to important.
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Trading in crypto is really very difficult ball game and more risky then stock. Its need fully risk management and research because one single news makes high fractutuation in price. Also if you are a future trader your risk going to be high and you need to keep an eyes on the market 24x7 hours. It's gives you a lot of pressure. So keep away from future trading and be in spot and do safe trading.
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Btc current situation is very unstable. Btc killing every long and short position in trading. But if you looking one month chart still its up. The way its crossed 10k price and reached above 12k its also need some correction. I think btc going in correction. For long term holder no need worry about but in this condition don't tale high leverage and do trading in spot market. That's the best things to do is hold your position in spot.
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All research is important for doing trading. You can't ignore anything. Technical analysis or chart learning or news based, event etc everything is playing a good role in trading. So when you go for buying something you must complete your dyor. For me I usually choose news based coin for trading. Upcoming news events makes a good spike in coin. So for mid term its gives you a good profit.
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Many people loose their fund in this market even experienced traders also lost everything. From my personal experience only 2 to 5 percent people took profit from this market and other more than 90 percent people lost their money in the market. So risk management is very important in this market. You mose concern should be how to safe your capital. Profit is too far away. First you need to learn risk management.
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It's also depend on the project that what are you holding it and what price. For long term holding I can't trust shit coin. Top 10 or top 50 crypto could be hold for long term but before going for long term you have to have wait for dip. For me usually when market is in dump condition you can take entry and and sold at high. Sometimes holding one months give you a good return and turn your capital 2x. So in this condition you can booked your profit and find other opportunity.
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I can only give few advise to new traders. First which is very important that don't be greedy in your trade and only choose good coin Don't enter in hype or fomo. Never buy at top. Also don't take leverage trading and be in spot trading because if you took leverage it can give you totally liquidated. Also research before investing any coin. So these are few things a new trader should follow for risk management.
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Binance exchange is good trading platform for beginners because here you can find good liquidity and easy to use plateform. But sometimes binance is also working as a stealing money from their customers. When btc price is moving fast then sometimes its stop working and traders can't able to put stop loss or close their trade and get liquidate their fund. So it's also important to prepare yourself for this kind of situation.
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I know in this field many possibilities happen but it's also true that those possibilities only for big money investors not for regular traders. Regular traders makes 100 200 or 300 dollars and one he lost everything in this market. So overall its bad impact on the market. Price manipulate by few people and exchanges and they can move price any direction and you can't do anything just watching to loose your money.
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In this crypto market every kind of trading is very risky. You may happy because you took profit now and its happend with every one. You makes profit continues but one day you will loose everything what you made and what was yours in the beginning. Because price is manipulated by few people and exchanges. They can move price any direction and you can't do anything. Stop loss also not hit in many times and you loose everything. Leverage trading is more risky which is pramoted by big exchange for their own profit.
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I am not much worry about Bitcoin but the price manipulation going on crypto is makes me worried. How new investors and people can trust on them if price manipulation going on this way. 99 percent people lost their everything due to this price manipulation and its manipulate by big exchange and few people who have full control on price movements. Its called decentralized but its totally centralized the way its react.
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Binance is good exchange for trading but the way price manipulation is going on this market which totally bad for all crypto market. Binance pramote leverage trading over 125x. Do you think if you took 125 x you never win. You always loose with 125 x but still its pramoted by binance. These exchanges only think about their profit not about traders and investors. So this is really bad for crypto.
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