2 tips in trading for beginners

[acidburn14]

1. Know yourself. Define your risk tolerance carefully. Understand your needs.
To profit in trading, you must make recognize the markets. To recognize the markets, you must first know and recognize yourself. The first step of gaining self-awareness is ensuring that your risk tolerance and capital allocation to crypto and trading are not excessive or lacking. This means that you must carefully study and analyze your own financial goals in engaging crypto trading.

2. Plan your goals. Stick to your plan.
Once you know what you want from trading, you must systematically define a timeframe and a working plan for your trading career. What constitutes failure, what would be defined as success? What is the timeframe for the trial and error process that will inevitably be an important part of your learning? How much time can you devote to trading? Do you aim at financial independence, or merely aim to generate extra income? These and similar questions must be answered before you can gain the clear vision necessary for a persistent and patient approach to trading. Also, having clear goals will make it easier to abandon the endeavor entirely in case that the risks/return analysis precludes a profitable outcome.

Hope this could help some newbies in trading crypto

[1715653274]

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[kimochidesh]

Two very important tips for beginners in trading:
1.   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.
2.   Many traders cannot spend much time in this market.  Crypto trading 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

[bobbyjonathan]

This is totally helpful for beginners. Regarding the point "Know yourself" - this is vital. Do not jump into Crypto trading because someone else is doing same. Have the passion for it and be ready to learn. Ask yourself if you will be able to withstand the volatile market conditions. And importantly also, your personal goals as in what you wish to achieve from Crypto.
Thanks for the advice.

[Tytanowy Janusz]

As trader you need to be able to admit lost trades. Be able to say "i was wrong" and cut losses. It might be hard and sometimes will make you eat your table when coin will rebounce after your sell but it is must have. Dont jump into trade when you see opportunity on 5 min candles for next 30 min time period and stick to that position for weeks hoping for it to recover. Alwais have exit strategy when entering market. And alwais change it if you see that market is not acting like you predict it.

To help admiting lost trades try to thing about trading as regular job and lost trades as fuel to get to work. Because there is no 100% accurate trader with 100% win trades.

[FalcoonRed]

my advice first point you have to know which coin you will buy and see its development, suppose there is a potential to ride immediately buy and the second point is you have to be patient in trading in crypto world.

[Adnanrao7989]

1st) the first way is that you check his team membars, and contact them,
2nd) find out it's registerd in bithub,

[MMnoob]

1. You should be able to analyze the coins you will buy because it will affect your coins and assets
2. when you sell it you have to wait for the time and target you want.

[danherbias07]

Stick to your plan.
The most difficult part when you are already in trading.
There may be changes when you are already live. Emotions come, panic selling and buying because of the hype. A lot to be considered.
That plan may always change. I think most of the users will agree with me at some point.
You cannot see what will happen so choices will be made at some part of the plan.

[Koro-Sensei]

Defining risks involve in trading is indeed an advantage to where you can manage or endure the pain there is. Exact your limitations might come in handy set your range at a price and never let go on how you rule out all of that, gotta keep fighting and enduring that's how we do business.

[bitcad4u]

Very deep analysis of the coin which you like to inverse your money is the best way to know your investment on the right asset.It is essential one before investment.If you want to get profit,you should hold the coin for longer period.As you hold it for the longer period,you will get that much profit.

[Raiwenkai]

First research about the coin you want to buy you must be open minded that sometimes you may win sometimes you may failed and lastly be patient because sometimes holding token will give you big profit.

[Xenrise]

One more. Don't be greedy. I was once a beginner in fact everybody who are trading in here were once a beginner. So, what you need to do is not to be greedy and trade and trade.

[Altcoins enthusiast]

Thank you op for offering this important advice to newbies and new investors. I think if we follow this advice we would make something great from trading.  Another thing that I may like to ask is that trading is a very high risky venture and putting your hands in it should come with this knowledge.

[marcous]

if you are a day trader, better choose coins with high volume. and you can divide your capital into 2 or 3 parts to back up if the price goes down. if your capital is not much you focus on 1 coin, my experience when the began of trading is to take profit only 10-20%.

[Bitcoin_Makers]

Your statements are certainly correct. But I would advise novice crypto currency traders to first of all learn how to trade in the financial market or the stock market, and then try their hand at crypto currency trading.

[Indamuck]

1. Know yourself. Define your risk tolerance carefully. Understand your needs.
To profit in trading, you must make recognize the markets. To recognize the markets, you must first know and recognize yourself. The first step of gaining self-awareness is ensuring that your risk tolerance and capital allocation to crypto and trading are not excessive or lacking. This means that you must carefully study and analyze your own financial goals in engaging crypto trading.

2. Plan your goals. Stick to your plan.
Once you know what you want from trading, you must systematically define a timeframe and a working plan for your trading career. What constitutes failure, what would be defined as success? What is the timeframe for the trial and error process that will inevitably be an important part of your learning? How much time can you devote to trading? Do you aim at financial independence, or merely aim to generate extra income? These and similar questions must be answered before you can gain the clear vision necessary for a persistent and patient approach to trading. Also, having clear goals will make it easier to abandon the endeavor entirely in case that the risks/return analysis precludes a profitable outcome.

Hope this could help some newbies in trading crypto

I wouldn't kid yourself.  There is a reason the "hodl" meme is so popular.  It is a tried and tested sentiment that actually works.  Crypto markets are heavily manipulated and they move like a sporadic rollercoaster.  The only people that should really attempt to day trade are those that own exchanges or have some valuable insider information.  This is just my viewpoint at least, if you are successful more power to ya.

[Moiyah]

Stick to your plan

I, sometimes lack this tip in trading. I know for a fact that my ta will happen and my plan will work but I still doubt myself. Thus, making my trading do some problems. Our own guys usually works most of the time.

[AshleyMoyes]

Understand your needs.

[usmanov123]

+1 Good stuff. It's crucial to keep in mind your goal (f.e. "no more 5/2 slavery" or smth that inspire you). It will give more energy to grind

[nicster551]

1. Know yourself. Define your risk tolerance carefully. Understand your needs.
To profit in trading, you must make recognize the markets. To recognize the markets, you must first know and recognize yourself. The first step of gaining self-awareness is ensuring that your risk tolerance and capital allocation to crypto and trading are not excessive or lacking. This means that you must carefully study and analyze your own financial goals in engaging crypto trading.

2. Plan your goals. Stick to your plan.
Once you know what you want from trading, you must systematically define a timeframe and a working plan for your trading career. What constitutes failure, what would be defined as success? What is the timeframe for the trial and error process that will inevitably be an important part of your learning? How much time can you devote to trading? Do you aim at financial independence, or merely aim to generate extra income? These and similar questions must be answered before you can gain the clear vision necessary for a persistent and patient approach to trading. Also, having clear goals will make it easier to abandon the endeavor entirely in case that the risks/return analysis precludes a profitable outcome.

Hope this could help some newbies in trading crypto

It is just too easy to say but a hard thing to do to beginners. A lot of beginners fail just because of their emotions and I know it is hard for them to master it since they are just focused on earning a bunch of money and not on how to learn the market.