AVOID trading at all costs, unless....

[Hypnosis00]

Everybody is a newbie at some point of time. This doesn't mean they should not try for what they desire.
Failing are the stepping stones to success. Avoiding trade just because they are new to it wouldn't be the advice I would give to somebody.
In my opinion a person should try and learn from their mistakes. This is how they grow and evolve and get experienced in that field.

If you never try it, you will never gain and overcome it.
Newbie should be positive about the trading and should first focus on learning the trading. Everyone makes mistakes initially and no one is born to be expert from day one. All those successful traders out there were newbies traders who used to do a lot of mistakes.

They all have common experience in their life and losing is always a part of crypto trading. And an't no wonder why some traders won't succeed just because they always thinking of instant profit and quick market return (some sort of magic) which is certainly can't be done.
Mistakes isn't the thing we have to worried about but it is our mind who think negatively.

[jakelyson]

...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.

You will need experience to get better in trading. There is no perfect trader but the risk involved in trading is manageable. Self control and discipline contributes to becoming a profitable and safe trading.

Of course newbies should always have to learn first the fundamentals, risk management and technical analysis. Then slowly apply them to live trading. The common mistake is going full on without even knowing any basics. We do not call that trading. It's gambling.

And you do not chase that 2k uptick after you sold. You are a trader. You hit your target, you get out. There is always another opportunity to earn more.

[juperos]

 I agree with your opinion, but newbie really needs to practice and stop reading investment theory.
  I also used to be a bad trader because I read too much and when I started trading, I couldn't control what was going on and didn't apply the knowledge I had learned.
We really should trade BUT with small capital, from $ 200- $ 500 to check our strategies. that's the way to develop knowledge and experience.

[JeromeTash]

How does someone learn how to trade then if they don't practice then?
Not everyone is a hodler.

If someone wants to do day trading, they have got to start form somewhere. Best advice you could give a newbie who wants to start trade is that maybe they first learn the basics of trading, then move into real trading with small amounts of capital that they can avoid to lose and then after sometime they can perfect their trading practices and strategies.
That's how experienced traders are made. Not by just cowering

[omonuyak]

The challenge we are having in cryptocurrency trading is volatility and pump and dump activities. I see that this cryptocurrency market needs to be stable a bit. To trade it needs a lot of skills and experience as technical set up does not always mean that the market has changed directions but as the most time, the pump and dump group will change the directions at will.

[BitHodler]

Best advice you could give a newbie who wants to start trade is that maybe they first learn the basics of trading, then move into real trading with small amounts of capital that they can avoid to lose and then after sometime they can perfect their trading practices and strategies.

You don't even have to use real money to trade. You can choose to paper trade or use one of the plenty available apps allowing you to trade with non existing money. It's something I have done at the very beginning too.

Psychologically there surely is a difference between trading with non existing money and real money, but the basics matter here. You will figure out what strategies pay off and what strategies are shit.

I am however of believe that there is no such a thing as perfection in trading. Perfection means that you will always profit, and this is something even the best wall street traders aren't capable of doing. Not realistic at all.

[hahay]

Yes, trading is about money and when we don't have good skills and experience it will only make a loss, but when we can be sure of trying to use money that can be lost, then I don't think it's a problem. But indeed, it would be better just to invest in long-term, but in this case it also does not guarantee to make a profit, because good research before investing is very important. The conclusion is always to learn everything first before regretting it in the end.

[vintages]

Seems as if the message was directed to someone. Me particularly, i have traded many times hoping that my sell out was the pick but obvious not. i watched the price increased to another high. stupidly, i went back hoping that i can play the game. unfortunately, i lost. almost everything. trading is for real time professionals not just for newbies.

Truth is that trading is not for everyone and I'm not talking about the so called 'professionals' because they sometimes get burnt too.

Trading is for those who are willing to take the risk and knows when to dive in and when to back out. It is just like gambling. It takes long practices and mastery to be perfect in it. Sometimes, there could be gain, sometimes lost. Though, I still feel hodling is the best.

[Rooster101]

Even new investors should learn some basics on cryptocurrencies even if they are investing for long term. They should have knowledge on risk management and be prepared for any eventualities in the future because of high volatilities and unpredictable nature of bitcoin. I also experienced losses and mistakes in my early days of trading but I learned from it very well and managed to improve it.

[Questat]

Even new investors should learn some basics on cryptocurrencies even if they are investing for long term. They should have knowledge on risk management and be prepared for any eventualities in the future because of high volatilities and unpredictable nature of bitcoin. I also experienced losses and mistakes in my early days of trading but I learned from it very well and managed to improve it.

We know that crypto trading isn't just an easy job and yet, it needs the knowledge to make it succeed. Will all the loses we've been encounter is all a part of crypto and nit really a thing to think that we don't have future in trading. It's up to us have to face the challenge and how to manage ourself to make it right.

[Eildosa]

I disagree with your opinion. The most important thing in the knowledge of any business is practice. If there is no practice, then all futile. Of course, you can read a lot of books and articles about trade, but still get real knowledge and experience only through practice. I know of cases where people make trade without proper knowledge. And they make a lot of money.

[maxreish]

Newbies do not learn to trade if they do not experience it by themselves. Of course, we have to know first the basic knowledge. Before, I also do some long term trades until I was interested to enter margin trading. If we have initiation qithin us to learn some technical analysis, there is no impossible that we can achieve what we are aiming to learn. DYOR. That is my advice.

[Freny250]

Many newbies are carried away by emotions durring trading. They get to attached with a coin that they don't know when to exit or hodl a coin.  I will advice them to learn from experinced traders its more beneficial and reduces unnecessary loss

[mirakal]

I don't totally agree with this, if you avoid from day trading, you'll never risk.
Sure, there is a risk, and it's risky since newbie have limited knowledge and less experience but risk can be minimize by trading with a small amount of money and that's the right thing to do, a newbie can learn along the way until he develop himself and become a successful trader.

[CryptopreneurBrainboss]

Not everyone will success at trading even with the right tools and that's a fact. You simple have to choose what best works for you, It might be investing for some while trading for others. As for day traders although I'm not a fan of fractional profit still you don't have to discourage does that have picked interest in it as they're the backbone of the market. Day traders are those who keep the market active, functioning and exciting without them the market won't be profitable when investors decides to cash out their holding.

[darewaller]

I think for beginners you can daily trading, as training to find out the character of the market. but I suggest placing a large portion of your capital on safe coins, like bitcoin. however the trading system is gambling is not good, one day luck is not with us and we lose everything

I think this is quite a wrong advise because new beginners should not start wit day trading first, if I am to advise new beginners, they should first do more of holding, and then keep watching how the market operates, by the time they already get used to the terrain, they can start with monthly or weekly trading first, because while they  were holding that coin, they are probably monitoring charts too, and seeing the fluctuation which I feel they should see as part of training for them to understand the market.

Day trading is not so easy, someone who has not perfected his or her skills in reading charts on monthly and weekly basis, how then do you expect him to be able to read a daily cart as quick as possible to be able to make decision necessary.

[mirakal]

I think for beginners you can daily trading, as training to find out the character of the market. but I suggest placing a large portion of your capital on safe coins, like bitcoin. however the trading system is gambling is not good, one day luck is not with us and we lose everything

There is no safe coins in the market, if ETH which is the most popular in the market of altcoins were dump 10 times from its ATH, then that would say the same to the remainder of altcoins. What we have to do is to learn how to minimize the risk, for day traders, stop loss is very important and don't be greedy.

[el kaka22]

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 are multiple types of trading methodologies are available for everyone and unfortunately most traders are not spending time on which method is suitable for them and this is the actual point where most traders are missing out which leads to big disasters while trading.

I never agree to avoid trading but you must take time to find which type of trading is suitable for you. For example, anyone can choose from one of the following type of trading: scalping - long term trading - short term trading - arbitrage trading but only after studying which is suitable for their knowledge and other factors.

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

Must be a best advice you can give to anyone. Long term does not need to be an investment but it is still a type of trading and fortunately it is suitable for any trader with respect to bitcoin markets.

[mr_random]

...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.

Inexperienced traders are caught on the same mistakes when I made those novice blunders way back to 2010. Long term investing is the main purpose but the risk/reward ratio is lower than the day or short term trading. The more time you give a trading position the more it will swim on the market. It will undoubtedly hit the take profit level unless traders going to touch the close button on the trading platform with a big fat finger.

[rose9696]

I totally agree with you. New people will often find it difficult to understand how to make a lot of profits and often they have a lot of accounts burned.
Therefore, hold is best for new people, especially with Bitcoin. easy profit, not too much pressure in trading.