2 tips in trading for beginners

[tothanhtuan]

Too many alts are going to get flushed out the market in this bear market that isn’t over yet. Most alts will not get back to ath.And most of the gains those alts made yesterday have been taken back already. Wait for the bottom or signs of a clear bottom before trying to catch a falling knife. Respect your money.

[tooklau]

Trading skills are very important knowledge, thank you for your reminder, this is not only useful for beginners, but also a good reminder for all our traders!

[liliano]

The tips above in my opinion are correct when we decide to invest there we must know our limits ranging from capital, level of courage and in-depth analysis of one or several crypto. Never stop when you fail once in a while because it's really the beginning of your success next

[Altero]

Too many alts are going to get flushed out the market in this bear market that isn’t over yet. Most alts will not get back to ath.And most of the gains those alts made yesterday have been taken back already. Wait for the bottom or signs of a clear bottom before trying to catch a falling knife. Respect your money.

It is not a good time for new starter, it surely they get hard doing trades due to market drops and they might get loss their money only. It is better to do buying only in a certain number of coins and keep it holding until market will normalize, then you'll go for trading by then.

[LastKiss]

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

Nice OP
But for me the most 2 important things

1. Always use money that you can afford to lose
This way will prevent unwanted things happen when you're facing lose at the moment or emergency situation, so you wont troublesome yourself. There's people will borrow some money to recover the lose but it doesnt work for beginners.

2. Know the basic bout trading
This is important for beginners who want to start trading, know how the market movement, learn from news, you can also follow experts trader to minimize your risk on trading, etc.

[noormcs5]

According to current situation trading is not at all best option for newbies. From the long view bitcoin price may have the great view to make profit but if you look closely you can get the market knowledge more and it will teach you how much you can make.
Most of the altcoins are fall down completely in the marketplace hence if you search for any altcoins to buy and hold for long time it may work well for them.

If a newbie enters the market now, he might be at a loss. the prices of the cryptocurrencies change so fast that the beginner will be not able even to choose the token to invest in.

Bitcoin market is always volatile and whenever anyone enter in the crypto trading world , one has to face these challenges. More important thing for any newbie trader or even experienced trader is to have full knowledge of Charts and also keep an eye on the latest news as crypto world is very much dependent on news. If you can handle these two things effectively , i can say that you can become a good trader.

[ace4549]

I think the first tip in trading for the beginners is buy when the value is in the low amount or price then the second tip is sell when the amount is in the high amount to be profitable enough.

[Towntrap41]

Know about the market, know about the coin, make research, know as much as you can before you trade. Mistakes, losses is part of the game that's you should know as you can.

[acidburn14]

what you explain must be very difficult to understand for beginners. what I know in trading is only "Buy at the cheapest price and sell at the highest price". For price predictions, you can see in livetrading. Traders must over time understand it.

This is a common mistake of a trader. Does anyone know what will be the cheapest price for a token? And does anyone know that the current price would be the Ath?

[jhongzjhong]

what you explain must be very difficult to understand for beginners. what I know in trading is only "Buy at the cheapest price and sell at the highest price". For price predictions, you can see in livetrading. Traders must over time understand it.

This is a common mistake of a trader. Does anyone know what will be the cheapest price for a token? And does anyone know that the current price would be the Ath?

Actually no, we could not predict what would probably happen near in the future of the market.
That's the reason why in trading we need a good timing of buying in the crypto at the perfect time we can earn a huge amount of profit.
Just keep holding, don't be greedy on trading that might make you down.

[george888055]

Learn one trading strategy, stick with it. One of the biggest mistakes I see beginning traders make again and again, is changing trading methods too often.

[Chestt]

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 have no prob with #1, but #2, i.e. "Stick to your plan" doesn't always work good for me.
Thanks for your post!
Happy trading!

[boy130]

According to current situation trading is not at all best option for newbies. From the long view bitcoin price may have the great view to make profit but if you look closely you can get the market knowledge more and it will teach you how much you can make.
Most of the altcoins are fall down completely in the marketplace hence if you search for any altcoins to buy and hold for long time it may work well for them.

If a newbie enters the market now, he might be at a loss. the prices of the cryptocurrencies change so fast that the beginner will be not able even to choose the token to invest in.

Yes, that's true. So the best way to do as a new trader is to sit back and observe the market a little bit before starting any trading as this will surely help you reduce losses.

[Pablobiz]

Nowadays, Identifying trends is required to survive the unstable market.
Identifying trends, or the general direction in which a security is moving, can also be very helpful for Cryptocurrency traders. However, singling these trends out can be a challenge. Digital currencies can be highly volatile, and looking at a chart of a particular cryptocoin's price movements will likely show a series of highs and lows.

[Pablobiz]

Nowadays, Identifying trends is required to survive the unstable market.
Identifying trends, or the general direction in which a security is moving, can also be very helpful for Cryptocurrency traders. However, singling these trends out can be a challenge. Digital currencies can be highly volatile, and looking at a chart of a particular cryptocoin's price movements will likely show a series of highs and lows.

However, technicians know that they can look past the volatility and identify an uptrend when they see a sequence of higher highs and higher lows. In contrast, they can single out a downtrend when they identify a string of lower lows and lower highs.
There are also sideways trends, in which a security experiences little in the way of upward or downward movement.
Traders should know that trends come in many lengths, including short-term, intermediate, and long-term.

[lavishlife]

1. Know yourself. Define your risk tolerance carefully. Understand your needs.

There are two types of trading strategy you can choose from,
also these two types is not applicable for everyone. the long-term
and the shorter-term

[slashz9]

that good, but you must remember this see the marketcap of the coin not the price and how much 24 hours volume.
some newbie trader always ignore that, they always look at the price not the transaction. that make they always lose their money.

[Breanne]

Thanks for the useful topic!
Nice tips. Even more than 2
Have a great time!

[alexveksp]

Recently I asked about day trading tips on this forum and got really nice response. Some one introduced me to trading community where I found perfect atmosphere to learn day trading and technical analysis

[katuhakuh]

Yes, that's a good suggestion for a beginner. Understanding our risk factors and knowing when to come out are the two most important tips we can give to novice traders. It must also know the purpose of trading, where the direction of trade is expected, the main goal is to get big profits, but also to be able to make a strategy when it's time to buy, when to hold, and when to sell.