Best trading advice for a beginner

[Yoona_As]

We see that those who hold Bitcoin for the long term can achieve higher profits than short-term traders. Training that will always keep you worried and stressed. In my opinion, about 50% of traders often lose money. The main reason is that market timing is very difficult. With a total of 21 million Bitcoins, investors see it as a rare asset that can be compared to gold. The price of Bitcoin often fluctuates, but if you invest in one, you need patience. In addition, if you hold Bitcoin for the long term, there is a much higher chance of getting a high price.

[DiMarxist]

Try learn the market very well to avoid unnecessary losses, because if you don't learn very well from who ever you are learn the market from you may likely loss, another very important thing to do is to use a demo account to trade very well, don't ever rush into the market. Always Ensure that you have mastered the market by using a demo account to trade before entering the market with real money, also master your emotions, don't allow your emotions to control you, always Ensure that before you use real money to trade ensure you have mastered your emotions else you may not be a good trader. Also have a good trading strategy, have the right mindset of an investor.

[CryptopreneurBrainboss]

Always Ensure that you have mastered the market by using a demo account to trade before entering the market with real money, also master your emotions, don't allow your emotions to control you, always Ensure that before you use real money to trade ensure you have mastered your emotions else you may not be a good trader. Also have a good trading strategy, have the right mindset of an investor.

Mastering the demo account won't save you from the market's restlessness as you still have the live market to battle with and to be frank with you, they aren't the same thing. Demo account will give you some insights but nothing beats the live market so also get some experience with that irrespective of your time with demo accounts. Alot of training advice would've have been  said since this thread is quite long so I won't have to be repeating what others have said but my advice is to stay hunger and don't feel satisfied with what you have learnt, keep learning and you'll make it.

[Ever-young]

We see that those who hold Bitcoin for the long term can achieve higher profits than short-term traders. Training that will always keep you worried and stressed. In my opinion, about 50% of traders often lose money. The main reason is that market timing is very difficult. With a total of 21 million Bitcoins, investors see it as a rare asset that can be compared to gold. The price of Bitcoin often fluctuates, but if you invest in one, you need patience. In addition, if you hold Bitcoin for the long term, there is a much higher chance of getting a high price.

If you hold for long term profit is guaranteed, the only thing that’s required for a holder is to secure their asset until their time for selling reaches, for trading even as much as it’s not profiting for those who have not mastered the market I will not still discourage anyone from venturing into it if they have pleasure of doing it all that’s just needed is for the person to take their time use small asset and learn how to trade they can’t be always profitable but with proper risk management they can’t also always be losing their is always risk in making wealth some believe they can’t get all they want by just holding allow them to chase that their trading it might help them win that wealth.

[btcltcdigger]

Best advice about crypto trading i got is "don't do it". Most of us suck at day trading, and it's an easy way to lose your money.
Why? Because crypto is easily manipulated and is prone to quick changes in trajectory based on global events. You'd need 3 heads to follow every news and still look at the charts for analysis

[maxreish]

What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid?

First off, do some tutorial videos. Read more on beginners guide on trading. There is nothing wrong to go explore amd try out crypto trading. But be ready to all the challenges and unexpected scenario since market are so unpredictable. Also, prepare yourself for some losses because not all trading entries were in your favor.

Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.

You can start with those user friendly platforms, Binance and Bybit for example.  About materials? Reading comprehension and mentor would be enough. Cause it is very significant that you know when is the right time to enter the market.

Best of luck!

[Sticky Bomb]

What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid? Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.

As a beginner, what I would advise you is very simple DO NOT TRADE, Until of course you have gone through good quality training on trading and mastered it to some extent, then you can start integrating your skills gradually.

Trading is addictive, if you have a good job, I would likely advise you to focus on your work during work hours and trade outside work hours so that you can concentrate at least. The emotional attachment in trading can tend to affect your productivity at work, so if you must trae, then be it after work hours.

Do not borrow money to trade, I have seen someone who is a beginner and took a loan to trade, long and short of it all, after loosing the money, he was disgraced by the recovery team to the extent that his family members took pity on him and paid the debts.

[Rockstarguy]

Always Ensure that you have mastered the market by using a demo account to trade before entering the market with real money, also master your emotions, don't allow your emotions to control you, always Ensure that before you use real money to trade ensure you have mastered your emotions else you may not be a good trader. Also have a good trading strategy, have the right mindset of an investor.

Mastering the demo account won't save you from the market's restlessness as you still have the live market to battle with and to be frank with you, they aren't the same thing. Demo account will give you some insights but nothing beats the live market so also get some experience with that irrespective of your time with demo accounts. Alot of training advice would've have been  said since this thread is quite long so I won't have to be repeating what others have said but my advice is to stay hunger and don't feel satisfied with what you have learnt, keep learning and you'll make it.

Using the demo account to trade is even different from when a trader goes live. In live trading, one has to reason and make good decisions that will not affect them at the end of the day. In live trading, there is more awareness that trading is about loss and gain, and you have to be wise to trade with an amount you can afford to lose. In live trading, one thinks about when to stop trading, but in a demo account, in most cases, traders don't even think or make decisions about when to stop trading because real money is not being lost to the market. There is nothing like live trading because it gives a trader the real understanding one needs to succeed in trading.

[ruykeri]

Actual real best advice: don't trade, just hold BTC.

To hold BTC , for the first time we have to know how to earn bitcoin. we have to know everything about  bitcoin. im here to know about the most demanding currency BITCOIN.  i know little bit about this. but want to know like expert and wanna invest in bitcoin . i need to know more about wallet, block chain, market policy and every things.

[Hatchy]

What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid? Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.

If as a beginner you really want to go into trading the there are so many things you should have in mind. First you have to understand that it's a very risky business. And you must take it very seriously. Don't expect to make much money from it in the next couple of years not dream too big of a life style because that's where you begin to get greedy and fail to apply a good risk management plan.
Also, get a good mentor and follow his steps. A mentor that has a prove of his stance in the market and not someone who just understands the basic and creates money for him self through teaching others what he barely understands.. lastly, continue learning. Trading is a marathon not a sprint. You have to be on a move, don't get too relax with one process..

[Yanghudi]

You must have a good mindset before starting to trade then let see what about the mindset https://bitcointalk.org/index.php?topic=5546809.msg65486074#msg65486074

[HONDACD125]

Best advice about crypto trading i got is "don't do it". Most of us suck at day trading, and it's an easy way to lose your money.
Why? Because crypto is easily manipulated and is prone to quick changes in trajectory based on global events. You'd need 3 heads to follow every news and still look at the charts for analysis

Even though you're right, I believe everyone should explore every aspect of the crypto space, and if someone is into investing, they should try trading as well, and by trying I don't mean one should suddenly start making day trades being a investor and start spending money on it right away, but one should look into it, learn from the basics to advance, and then once they are ready, they should try to use their knowledge and make some trades. If they feel they are not able to do it or understand things very well, they can always stop before they lose much money. If it works out for them, they'll have two things to do now.

I tend to believe that it's a privilege if someone can afford to both trading and investing at the same time. In my case, I can't do both at once because my capital is not that large, so if I invest in Bitcoin only, I won't have much left to trade with, and if I keep money for trading, I won't have funds for investments, so, that's why, I believe it's a privilege to be able to do both at once.