5 things you need to know before trading crypto

[Kelvinid]

Absolutely OP was right and all he stated is correct! That's a great point. In that way, you can be able to earn a massive profit in trading. It is very important for you to be able to gain more knowledge. Not like trading without knowing, it might lead you to nothing. Do your own research is very important in trading to avoid possible loses. Probably also tools can help just like automated trading bot but don't rely upon this. And also avoid the HYIP group.

Not just only DYOR will play all the time, it is something we need to hear also from the crowd or seek advice from your mentor. Not just you think you have enough knowledge in trading it will warrant you for succeeding profit gains. We also know and must have to choose what is the best coin in the market today. Cause the most common failure of traders today is because of this which I think that it was easy to make trades and gain when we are about to choose those who have already names in the market.

[Cherylstar86]

Absolutely OP was right and all he stated is correct! That's a great point. In that way, you can be able to earn a massive profit in trading. It is very important for you to be able to gain more knowledge. Not like trading without knowing, it might lead you to nothing. Do your own research is very important in trading to avoid possible loses. Probably also tools can help just like automated trading bot but don't rely upon this. And also avoid the HYIP group.

The reminders of OP is not new the world of crypto currency in which OP just remind it again to us more specific and detailed. Anyways, as the time passed by many of us here still heard about the scammer, spammer and those fake projects in which there are still a victims as we always remind for them but in the end they still victimized.

[Hippocrypto]

One more thing, always care with the news because crypto price is always move when the coin have a bad or good news. Always be up to date and be the first person to know the news about crypro will make us safe in crypto currency trading. Beside that, we also have to know the technical analysis to do a day trading or if we want to pay our living from trading we have to really understand technical analysis

You're right . All coins are easily affected by the news so there is a need to be extra careful in investing. Any news can affect the coin you are holding and it's easy to change the value in the short term. We are just ordinary investors so we usually do not do much research, but now it is certain that the research should always be the top priority because the current market is more risky and more unpredictable this year.

I usually have a backup plan if the coin drops suddenly because if the market goes down it will be very difficult to invest and it can completely cost you huge losses. The best advice to focus on monitoring this market every day and only trust in yourself.

Sometimes having too much focus on the market made us so stressed in the long run. Much better if we seldom check on the market trend movement in order to avoid being emotional, and learn how to be specific on your decisions in order to be strong enough to face such challenges in trading your crypto assets.

[electronicash]

before trading in crypto i guess the first one a new trader should remember is that there is no sure strategy that he is going to win at every position made. as a newbie he will lose money and its discourage not to get into trading unless you have DYOR and the best way to do it is just to INVEST only the extra amount they got and  HOLD on to it for long term investment.

[btc78]

well you did not mentioned "Arbitrage" i think this is also profitable for traders if they know how to handle and use this strategy.
yeah another risky area but more easy than daytrading IMO.

but good thread ,reminding me of the past when i was new here,i normally see this kind of advises and now its here again,always helpful threads

[cryptoangel]

before trading in crypto i guess the first one a new trader should remember is that there is no sure strategy that he is going to win at every position made. as a newbie he will lose money and its discourage not to get into trading unless you have DYOR and the best way to do it is just to INVEST only the extra amount they got and  HOLD on to it for long term investment.

In reality all the peoples are expecting the quick profit so once they invest they never waiting for longterm. I always suggest to participate low level trading for beginners because one or two times they loose the money and they will understand how market will grow and dump. Once they understand how to tackle all the situation they will earn further investment.

[Obito]

DYOR is always been in the list but new traders never do. Quite often rather. I highly consider these spots. Do your own research as well, set fund, PLAN, Execute only on what has been in the plan, and avoid letting such emotions be the one that controls you because they often forget these lists specially the last one that is why fortune turns out to be a bad luck. Anyway great list by the way.

[Colt81]

before trading in crypto i guess the first one a new trader should remember is that there is no sure strategy that he is going to win at every position made. as a newbie he will lose money and its discourage not to get into trading unless you have DYOR and the best way to do it is just to INVEST only the extra amount they got and  HOLD on to it for long term investment.

In reality all the peoples are expecting the quick profit so once they invest they never waiting for longterm. I always suggest to participate low level trading for beginners because one or two times they loose the money and they will understand how market will grow and dump. Once they understand how to tackle all the situation they will earn further investment.

Indeed. People who have met cryptocurrency for the first time will always expect that they could earn money quickly, that is why they lost their patience to wait that will result having huge loses in their investment. Trading is really not easy, but if you can overcome your emotions and have patience in trading you could simply become a good trader because it is the best ways to minimize your losses and avoid panic selling.

[alexsandria]

Do Your Own Research (DYOR)

DYOR or Do Your Own Research is a super common term within the crypto community. DYOR is pretty self-explanatory, but serves a reminder to always investigate coins before you buy them or start trading with them.

Great points out there specially this one. Which I will be elaborating more. Researching isn't something you'll be doing for no reason. It is solely a tool of yours building such knowledge out of your own effort, proves and validates your unclear thoughts and specially a precious treasure you'll be bringing out all throught out on your trading journey. DYOR will help you survive in every problem that might occur in your trading journey.

[LouVandetta]

There's always risk following behind you. People should remember that one. Since the market is very unpredictable. You never know what might happen.
Keep your expectations low and you will never be disappointed. At least that's what I always do, eventho sometimes it's kinda hard to pull myself together.

[kanayaTabitha]

There's always risk following behind you. People should remember that one. Since the market is very unpredictable. You never know what might happen.
Keep your expectations low and you will never be disappointed. At least that's what I always do, eventho sometimes it's kinda hard to pull myself together.

Yeah never expected anything is the best thing to survive in cryptocurrency, the market is really agile and even we already well prepared in any condition , market still able to surprice you with it's movement. So, having a low expectation for our investment is the best option to take

[Genemind]

Crypto trading is not always successful, there will always be risks that we can't get rid of. These tips are helpful and necessary for us to overcome all the risks that we will encounter here. We should also know how to handle our emotions because crypto is unstable and is volatile. We must learn how to deal with every market situation and take it as an opportunity to earn. Doing your own research will be a good start for you to succeed in trading.

[rmhuntley]

A very good guide that you share for how things should be understood before trading crypto, This is a new science that I have to do to trading.During this time I play only holding crypto investments. Thanks for a very useful guide

[danherbias07]

I dont see FOMO in your list which many times have occurred to me.
When you see a price that keeps on getting up it is easy to make a decision to buy with the wave and then suddenly a dump comes.
But it could also be the brother of greed.
Since you are in FOMO mode, even if the price is declining little by little you just became a hard headed fool trying to wait for another pump which wont happen again.
That is base on my own experience.

[Viscore]

Crypto trading is not always successful, there will always be risks that we can't get rid of. These tips are helpful and necessary for us to overcome all the risks that we will encounter here. We should also know how to handle our emotions because crypto is unstable and is volatile. We must learn how to deal with every market situation and take it as an opportunity to earn. Doing your own research will be a good start for you to succeed in trading.

Yes. Research in the potential coins you want to trade is a very good start that will help you minimize from losses. And invest only what you can afford to lose since we should not expect that making profits will happen all the time, losses will surely occur sometime. And the best thing is you should know when the best time to trade or just when to do long term holding which is the safest way to earn profits.

[Murat]

That's a piece of good information which should be known to all, I also think as like as you have mentioned here, I believe that without having own research no one could gain anything from here, the only secondary source of information is not enough to make a good impact with your investment, so own research result is very crucial to bring any positive result, with your point, one thing I want to add that every investor should have a back up money so that they shouldn't depend on the investment solely, But overall my opinion, Holding is the best policy to make your money enhance without any hassle.

[Linkkoin]

Be a crypto Jedi - extinguish your emotions as far as possible  Otherwise greed and panic will take over you, and like thousands of people who bought BTC in December 2017 and sold it in panic, you will end with terrible losses. Usually, it is best to behave oppositely to what most people do - buy when panic takes place, sell when there is greed.

Of course, it does not apply to all cryptocurrencies, some of them are nothing but a pump and dump traps. So then if you see that some very small coin suddenly has 100% or above daily gains - be aware, that this is a pump stage. If you fall to that trap, people responsible for pump will make money out of you, by dumping useless crypto to the people who got blind by greed and easy money dream.

[Triffin]

I just want to add for the list is learn first the fundamentals of trading. Before engaging in trading you must have gain an experience first so that you can realize what is the do's and don't also it wouldn't hard for you to deal with problems. Always remember that set aside our emotion because this will be only a hindrances in our trade. I like the idea of diversifying our trade to avoid losing all of our funds, just like what other said "don't put all the eggs in one basket". Remember as well that invest only the money that you can afford to lose.

Without a sound knowledge of trading, it will become difficult to survive in this profession for long. Learning the fundamentals are essential before entering into any new territory. First try trading with demo accounts as this facility is available in famous exchanges. This will help in developing patience during the blunders also. It is okay to invest in one asset as far as it is a potential one, like bitcoin.

[huige007]

before trading in crypto i guess the first one a new trader should remember is that there is no sure strategy that he is going to win at every position made. as a newbie he will lose money and its discourage not to get into trading unless you have DYOR and the best way to do it is just to INVEST only the extra amount they got and  HOLD on to it for long term investment.

In reality all the peoples are expecting the quick profit so once they invest they never waiting for longterm. I always suggest to participate low level trading for beginners because one or two times they loose the money and they will understand how market will grow and dump. Once they understand how to tackle all the situation they will earn further investment.

Indeed. People who have met cryptocurrency for the first time will always expect that they could earn money quickly, that is why they lost their patience to wait that will result having huge loses in their investment. Trading is really not easy, but if you can overcome your emotions and have patience in trading you could simply become a good trader because it is the best ways to minimize your losses and avoid panic selling.

Crypto currencies are the way to earn money quickly with ease. There is no business or asset in this world that can make a person millionaire while he is just a teenager. The important thing is to invest in the right coin and hold it for a good duration of time. No big efforts are required. Just a simple investment and holding. I would suggest to make bitcoin as the first choice while making investments.

[Aleister Crowley]

Sometimes, the celebrities and the politicians will impact the trading market a lot. So it is important as well to subscribe news updates.