AVOID trading at all costs, unless....

[Bossian]

...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.

Too many newbies get burnt.

Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.

There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.  

My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.

Best of luck.

[anu1908]

if you avoid trading before you got solid experience, then you'll never trade at all. it's impossible to get a perfect start and maybe going rekt most of the times, but that's necessary if you want to build your skill. so a better idea would be only using the money you can afford to lose when you trade and learn to control your emotions.

[GreatArkansas]

Maybe you just said that since you lost some trades of yours. But if you started to learn how to trade or how it works, you can gain knowledge and will lead you to become a succesful trader.

Does all successful trader didn't start from the bottom? didn't lose some of their money at their first few trades?
Also, even successful trader still losing some of their trades.
I know being a trader is difficult, but still, if you want to improve you will learn and will work hard. *Not advertising to trade* Just my 2 cents...

[Bossian]

if you avoid trading before you got solid experience, then you'll never trade at all. it's impossible to get a perfect start and maybe going rekt most of the times, but that's necessary if you want to build your skill. so a better idea would be only using the money you can afford to lose when you trade and learn to control your emotions.

You can learn how to trade with air, or very small money then.
But let's be honest most put their all bankroll in a trade and risk losing it all.

[efrenbilantok]

...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.

Too many newbies get burnt.

Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.

You won't earn any solid experience at reading charts if you stay put right there doing nothing, of course you must do it yourself first hand if you want to have that experience to be gained, getting rekt is a good lesson for starters

[BuxCoin]

no one will learn if they dont try and fail , even i failed many time but i knew that i should not put more money and get burnt , so i put less money while learning and got burnt less   

[Lucius]

Trading with crypto is not for everyone, some people have some knowledge and skills so with time they become even better traders. But some people will only lose money, no matter how much time and effort they have spent to learn how to become successful traders.

This of course does not mean that everyone should not try crypto trading, but at least some basic about how to trade should be studied. Selection of good exchange is also important, and amount of money invested on that exchange should not be more than you are willing to lose.

People lose money / coins on exchanges not only for bad trades, but also because exchanges get hack, or users become victims of hack mostly by phishing. So it is not only important to learn how to trade, but also how to use exchanges in a safe way.

Whatever you do, never consider exchanges as long-term storage. If you have no plans to trade for some time, move your coins in safety of more secure wallet where you control private keys.

[izanagi narukami]

That's what I'm doing over 5 years on investing crypto especially on bitcoin , just by holding.
Yes, you can earn profit quicker if you do short term of trading but in crypto to risk is too high because of it's volatile value.
They also different with ordinary stock trading ( remember this part )

[Jating]

But I think you can start somewhere else right? You can go and get your hands dirty and see it for yourself. If you think you can't handle the pressure in the beginning, then you might think about switching careers.

Then again, because of the huge money to make in this cryptosphere many are tempted. Even believing that this is a get rich quick scheme. That's why a lot of them got burned and never look back.

[DoublerHunter]

If you really want to trade because this is the only way for you to earn instant money, first you need to explore of the reading chart and master the technical analysis which very important when you are in trading. Staying here in the forum and gather information related trading will help you. How could you know if you didn't try and have some experience if you make mistakes then it should not happen again and you should learn of it. I'd been 3 years here in the forum and after that, I tried to trade as what I have learned and yet you had already advantage rather than you are a newbie.

[1Referee]

It's impossible to convince people that trading isn't for them, especially if they were so lucky to have guessed a few price movements correctly.

In all cases losing money is the best guide. People need to feel it in their wallet that they suck at trading. Some need a lesson or two to get that far, but most people will refrain from trading afterwards. The temptation of short term gains is so strong that people just can resist the temptation of opening a trade position.

In the end, people are responsible for their own actions. They are free to do as they please, even when it might not be the best option for them.

[bhabygrim]

if you avoid trading before you got solid experience, then you'll never trade at all. it's impossible to get a perfect start and maybe going rekt most of the times, but that's necessary if you want to build your skill. so a better idea would be only using the money you can afford to lose when you trade and learn to control your emotions.

Actually you could get a solid experience before getting rekt in trading you just need to use the simulator to try out your skills .
And of course you also need some guides and tons of time to learn all of the things you need in order to be a good trader.
This is what most of the newbie's are missing right now they are to greedy and being to reckless doing things without a proper knowledge.

[dunfida]

-snip-

Actually you do got the point but theres no one can stop if someone decide to jump into trading even if you are experienced one or a complete newbie.
Mistakes are inevitable but experience along the way would be a good teacher.Dont just quit up when you experience some few mistakes and believing that trading isnt
for you which this is some sort of wrong mentality.

[Arkham Knight]

...unless you have some skills from the financial world that you can transfer to crypto.... and even that, NOT SURE.

Too many newbies get burnt.

Unless you have solid experience at reading graphs, clouds, candles, etc, don't do it. You may make some money by pure luck when you will get burnt in the long term because it's a new field for you.

There is no worse feeling that selling at XXXX$ and then see the price go up by 2k in a week span.  

My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.

Best of luck.

I disagree. The long term works specifically only on bitcoin and the top 20-30 altcoins which can give you 5x-10x of profits. While those altcoins that are in the bottom of the list can spike up to 100x or more in an altcoin bull run but what is needed to fulfill this success is to make crypto trading a full time work.

[Slow death]

the two options have advantages and disadvantages, for example in the case of disadvantages:

Hold for 3 years - let's suppose the person buys some currency when the price was  $5000 but after 3 years the currency falls to $3000. then that person at the end of 3 years will suffer losses. Hold also has great risks and you need to know the time to sell with profits or losses.

do day trade - I see many people in the tradeview who make charts full of lines, but always fail in their analysis, this is a disadvantage of daytrade (it's impossible to predict the price correctly always)

[justdimin]

I think "trading" could be difficult but investment is not and some of the people here mistake what investment is and what trading is. I mean trading is buying and selling something to make a profit and for their full information that is what investment is, if you buy bitcoin right now and sell it 4 years later that is still buying and selling and making a profit so they think that is trading too. That is not trading, that is literally investment.

So, if you are new and want to buy something and not look back for years then you can totally do it, if you are new and want to trade that is risky as hell. I had a friend who bought from peak 20k times even though as the only person he knows that deals with bitcoin I told him not to because he would have to wait years. He didn't listen and bought anyway and sold it when it was 8k or so, I mean even if you are new and gonna do something, at least listen to your veteran friends.

[Lucius]

Hold for 3 years - let's suppose the person buys some currency when the price was  $5000 but after 3 years the currency falls to $3000. then that person at the end of 3 years will suffer losses. Hold also has great risks and you need to know the time to sell with profits or losses.

Hold on bitcoins for long-term has so far proved the least risky investment, and we can assume if you invest few months ago and buy 1 BTC for $5000 that after 3 years that coin will have much greater value than today. Of course there is always a risk, even with most popular cryptocurrency. Person will only lost if he / she sell at lower value, but there is always option to hold for some extra time and wait for better price.

If you invest today in some altcoin and hold for 3 years, then the chances for loss are probably more then 90%. Bitcoin is profitable for long-term holding, and altcoins should be used for short-term trading.

[palle11]

My advice for newbies is to invest long term, by long term I mean 2, 3 years or longer.

This your advise is for people who have taken crypto trading as alternative source of income but for those who are having crypto as first and only source of income, they can't just hodl for that long. In fact, they will trade certainly.

Obviously, every business has its hazard and risk 

[MonsterV]

Hold for 3 years - let's suppose the person buys some currency when the price was  $5000 but after 3 years the currency falls to $3000. then that person at the end of 3 years will suffer losses. Hold also has great risks and you need to know the time to sell with profits or losses.

If you invest today in some altcoin and hold for 3 years, then the chances for loss are probably more then 90%. Bitcoin is profitable for long-term holding, and altcoins should be used for short-term trading.

I think that's right, for beginners can choose both to trade long-term with bitcoin and trade daily with altcoin. I think that is the right choice, while learning how to do good trading procedures for several years. It's useless if it's only used for long-term trading and just keeping quiet, it won't add to your experience.

[Questat]

Hold for 3 years - let's suppose the person buys some currency when the price was  $5000 but after 3 years the currency falls to $3000. then that person at the end of 3 years will suffer losses. Hold also has great risks and you need to know the time to sell with profits or losses.

If you invest today in some altcoin and hold for 3 years, then the chances for loss are probably more then 90%. Bitcoin is profitable for long-term holding, and altcoins should be used for short-term trading.

I think that's right, for beginners can choose both to trade long-term with bitcoin and trade daily with altcoin. I think that is the right choice, while learning how to do good trading procedures for several years. It's useless if it's only used for long-term trading and just keeping quiet, it won't add to your experience.

Have this long term trading work well? Absolutely it never works all the time. It is just a little bit of luck, choose of coins and in the right timing.
Have losses often to happen to long-term investment than of short-term.
I'm preferred to be at short-term trading cause we can actually play the market but our profits might be difficult during bear season.