What are the useful tips for beginners?

[Baoo]

Hello guys and gals , it is certain that the field of trading is very profitable, but regrettably, I have seen many beginners start in this area without any knowledge of the basics. In fact, this class always fails and lose a lot of money because of their hastiness or rashness.

So, according to my experience, I want to give some useful tips, and hope they will help everyone, and will be as the following :

1- Read and learn the basics of trading:

-I think the best way to start understanding this field  is by reading books related to digital currencies,  but unfortunately, the issue that many people  read only the first pages of the book, then they stop.

"The more that you read the more things you will know, the more that you learn, the more places you'll go "
                                                                                                                                                            -Dr. Seuss
I suggest some books, and they will be as the following :
Cryptocurrency: Beginners Bible:

Mastering Bitcoin for Dummies:

Cryptocurrency Trading & Investing


-Learn how to analyze and deal with different situations ( pump, dump ..) in a smart way. Plus,  try to help yourself  with yourself, Do not complain and ask for help from the others, because no one is in your place. And even if you fail in the first attempts and lose a lot of money, then It is not the end of the world.
Believe me, learning from failed experiences will help you in order to improve your next choices, and you may start to gain a significant proportion of money.

2-Stay away from media news:

Media are always manipulating traders through some false news and even the social media (Twitter, Facebook..), They may even control what happens in the market (crisis, jump), in order to achieve the interests of some (the capitalists) and regrettably, many believe the information and fake predictions.
" Do not be a sheep and act like a wolf "

3- Be patience  and  try to be brave , not afraid:
The field of trading is profitable when you are patient and not hasty like many, and of course you must take advantage of the opportunities intelligently.
Fear is one of the most important obstacles that lead to losses, especially in difficult situations (big crash), like, panic selling...

IMO, Courage is by taking the risk, especially when there is an unexpected event (Big drop).
"Big risk, Big gain."

Cheers,  

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[Tankdestroyer]

Nice tips you got there but I think your tips are lacking something. One of the most common mistake a newbie does is to invest in only one coin which in the end leads to loss if that certain coin does not perform well. That being said, you should have had included there this: "diversify your investments. Never invest in one coin only and always remember to not put all your eggs in one basket".

[btcforhumanss]

Nice tips, but now i'm in first one main tip for newbies - better don't invest in the ICO. Many scammers in the industry ICO now.

[Nerman]

Great tips and with that you can help many people.

I just wanted to add that experience is very helpful as well. If you do not have any experience in trading I will suggest that before using your real money for trading you try to feel trading by using a demo account. If you are in a rush to trade then do not put in a lot of money. Once you are comfortable then start putting a big money. 

[isidrorex]

I always advise fellow traders who are new to the crypto world to invest theirselves first in studying and learning the basic principles and tips in the cryptocurrency trading world. Before they invest and put in their money, self-knowledge is important so that they can know how to handle their money and to trade safely and avoid being scammed.

[nyerok]

tips for beginners in my opinion is you must be able to control the emotions you have and you should also be able to know the right time to buy and sell coin.

[arjen18]

Nice tips bro this is very useful for the beginners like me in this kind of industry .

[lushlife]

Thank you for this useful tips, you forgot something, traders must master the three types of market analysis, how does analysis help you? it helps you predict the future price of that certain market.

[mronezigger]

Don"t panic,keep patience and hodl.
Timing is everything in crypto market,even a split second delay will cause huge loss.
Market crashes due to fear,uncertainty and doubt.
Buy during the blood bath and sell during the high.

[Moiyah]

These are the only basic steps for the beginners and newbies in trading. I appreciate your post, we all came from a scratch and this may help beginners a lot. Read, study, research. We have to accept the fact that we started gaining information by just reading. Patience is also basic to say but very hard to implement. Lol. When our emotions are active, we sometimes forget the word patience. That is why self control and managing emotions are important things to work on in trading.

If I may just add up some advice to a starter in this field of trading, just do it when you can afford the money to lose. We may win or lose, but what's significant is that we may afford that amount to be lose.

[Altcoins enthusiast]

Nice and powerful tips from a professional trader! I think if you can read those books and implement the trading strategies and recommendations in those books you will became a professional traders in no time. You should no that you are the boss of your trading position and never allow any one to tell you what to do.

[BlackPanda]

What I will be very careful in giving tips to a beginner is they must have a very high fighting spirit. never give up and continue to learn to do analysis. With good analysis then a trader will be able to make good decisions. Indeed a trader must have a good experience so that when we fail then we must continue to try it. With a variety of experiments then the skills we will have will increase and we are on the path of success in life that we have.

[kaizerblitz]

Nice tips, but now i'm in first one main tip for newbies - better don't invest in the ICO. Many scammers in the industry ICO now.

Yes i agree with you mostly ico are scam but there's ico are legit to invest and participate on there bounty program always research for the best one i recommend to search ico on icomark.com there so many legit ico and choose the best ratings.

[ss890]

Wow those books! Lolz.. I never read any book about the crypto currency trading and neither I am expert in it but I do make money out of the crypto currencies. From my experience I have learnt that there is only one way to be good traders, and thats keeping patience, and choosing the right coin to invest. If you have that one in your mind then you can always make nice fortune. Reading books and stuff can confuse people in the long run as in the reality things can change adversely. So its not just about the books but also personal experience and at what you ended up while trading. You should learn from your mistakes and try to go beyond the line if needed. But nice work by posting those name if someone really like reading here.

[Nonie]

great tips and very useful for beginners. knowing and reading many references about crypto is the most important and after that if you want to play trade know candle analysis is very important and your mental must be strong not to be a panicked person. because it's bad

[Supercrypt]

Nice tips you got there but I think your tips are lacking something. One of the most common mistake a newbie does is to invest in only one coin which in the end leads to loss if that certain coin does not perform well. That being said, you should have had included there this: "diversify your investments. Never invest in one coin only and always remember to not put all your eggs in one basket".

Yeah, that is more like diversifying the risk and spreading them across different pairs. It is a great tip for beginners though and those books are some pretty good ones for every beginner to make good use of to be able to build themselves in the journey they are trying to embark on. Trading is not a small stuff, as it is amore of a profession and the need to do it right is always necessary due to the risk involved as well.

I just wanted to add that experience is very helpful as well. If you do not have any experience in trading I will suggest that before using your real money for trading you try to feel trading by using a demo account. If you are in a rush to trade then do not put in a lot of money. Once you are comfortable then start putting a big money. 

It is a good tip and with that at least a wannabe trader can know what to expect in trading before even starting. Problem is that a lot of people do not like reading and they are always looking for the easiest way out most of the time when it comes to trading, but one thing everyone should always understand is that trading requires great effort and you do not want to be caught up making wrong decisions every time or getting emotionally involved.

[Pamadar]

Great help to open wide your understanding regarding to this business, better to take some time to read and analyze if how we can take advantage of this investment, trading is not a game but a business which accompanied by risk, if we are fully equipped before we enter this industry, then we have a better
chances to survive, thanks OP for providing those books just some addition to that, better also to start dealing with it while we are in the process of learning, as many traders said experience is the best teacher from system like this.

[el kaka22]

Nice tips, but now i'm in first one main tip for newbies - better don't invest in the ICO. Many scammers in the industry ICO now.

Yes, it is a good tip for investors but not mainly for traders. ICO may be a huge risk, but that does not mean you can stay away but instead find a way to play safe by doing proper diligence before investing into any market. The reason why some people always end up victim of scammers is just because they look at the physical appearance and not the inner one like the team, availability of product and so on.

Still, in trading there is a lot of risk as well, and this is the reason why you still need great knowledge to be able to do it well as well, while including something’s to build up your skills in making good decisions too.

[Akiko]

Nice tips you got there but I think your tips are lacking something. One of the most common mistake a newbie does is to invest in only one coin which in the end leads to loss if that certain coin does not perform well. That being said, you should have had included there this: "diversify your investments. Never invest in one coin only and always remember to not put all your eggs in one basket".

How if the money of a newbie are small and it's for only in one coin,  how they can split in to different  cryptos?  Lol
By the way that's right if you decide to invest in crypto the better way to gain more profits  are spread your money in difference coin just in case and it's a great  tips in a lot of members in forum and most of them in newbies.

[Dimon8]

First of all, study the theory in this forum. There is a lot of useful information, look through and ask questions in the topics you are interested in, be active in this forum and you will receive knowledge, a matter of time.