What advice will you give to a beginner trader?

[nasipadang]

...

The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.

...

Don't do the above, this is very risky for beginners, it would be better if you want to invest so just buy top coins and learn market movements with your technical analysis knowledge. If you want experience then you can do it because who knows it will make a good profit, but I have to say that the risk is huge and takes up a lot of your time. Maybe my advice is to enter a market like xrp, btc and some other altcoins that have manipulative markets. The market will force you to move with dominance demand, this is very good for trading experience and you can understand to choose a good market, this is a bit extreme but in my opinion it is worth it. While here many users have already provided advice on trading basics, strategy and management planning.

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[Golftech]

Advice :
1. LEARN. Learn from legit guru. Guru that proven. You can check their trading portfolio (minimum 1 year) for your consideration. Legit guru will be act as your supporter, friend and mentor.
2. Risk Management.
3. Time. Time for learning and improving.
4. PATIENT.
5. For real trading, Use money that you can afford to lose.

And never become demanding,be enough for 20-30% profit each trade.

Don't become Greedy and always learn from everything you are entering,either buy low sell High or Buy low and sell at small losses when chances comes to you.

[nelson4lov]

The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.
~Snipped ~

Right now, you're not really trading but you're simply investing since you're just buying and holding for an extended period of time till whenever you're in profit before you can sell. That aside, I have some advice that might improve your odds.

Learn and understand what both technical and fundamental analysis entails.

• Fundamental Analysis: First you need to find an avenue where you can get fresh news about the crypto market (crypto markets reacts quickly to news whether positive or negative so you have to keep it in mind). Some tools in your fundamental analysis toolbox:
  
  i. News site that is updated frequently like coindesk etc.
  ii. A calender app with events for majority of the cryptocurrencies. You can use Coinmarketcal for that. You simply check events in future that can drive up the price. These includes events like Mainnet launch, new releases, partnership announcements etc.
  

• Technical Analysis: This is a very broad topic which you will have to spend time to learn and practice. It might take you months if not years to get more experienced in with it but in the long run, It'll be worth it.
  
  Some TA concepts you should get familiar with:
  i. Candlestick patterns ~ For a start, you can learn the common ones that entails a bullish or bearish price action.
  ii. Drawing tools - support, resistance, trendlines, trend channels, Fibonanci retracements & extensions, triangles etc.
  
  iii. Chart patterns: there are some chart patterns you should be aware of like head and shoulders, double tops & double tops etc. It might not be work everytime but knowing them will increase your odds as they do come up in chart every now and then.
  
  iv. Technical indicators: RSI, Bollinger Bands, Moving averages are some of them. You have to know which ones to use for specific markets ~ some indicators works better in different market conditions like trending or ranging. You need to know which ones to use and when.

Aside from Technical analysis and Fundamental analysis, here are some other concepts you should know as a trader:

1. Risk management: How to effectively manage your risks to ensure you're not losing more than you can afford to lose.
2. Have a trading plan and journal: important in the long run.


In all, it will take time for you to become used to these tools and concepts. But you should keep learning and improving and with time, your efforts will pay off.
 

[MCobian]

I will give simple advice, so newbies don't think crypto trading is complicated. My advice for newbies is use money that we can
afford to lose, be patient, and don't be greedy. Just run first 3 points which I have already mentioned. I am sure that newbie
can succeed in crypto trading. If these 3 things are successfully mastered, then start to the next level. Namely studying technicalities,
such as technical analysis, fundamental analysis and risk management.

[Kasabus]

I will give simple advice, so newbies don't think crypto trading is complicated. My advice for newbies is use money that we can
afford to lose, be patient, and don't be greedy. Just run first 3 points which I have already mentioned. I am sure that newbie
can succeed in crypto trading. If these 3 things are successfully mastered, then start to the next level. Namely studying technicalities,
such as technical analysis, fundamental analysis and risk management.

Start even with a small amount of money as newbies are still prone to losses than gains. Do not be easily discouraged if you lose your money because trading is not just winning profits but also losing some. And never get into trading if you are not ready. Take your time first learning all the basics through reading articles and watching demos. Of course, start with a demo account first so you won't be upset if you lose suddenly.

[el kaka22]

I will give simple advice, so newbies don't think crypto trading is complicated. My advice for newbies is use money that we can
afford to lose, be patient, and don't be greedy. Just run first 3 points which I have already mentioned. I am sure that newbie
can succeed in crypto trading. If these 3 things are successfully mastered, then start to the next level. Namely studying technicalities,
such as technical analysis, fundamental analysis and risk management.

Studying trading analysis could never hurt you, doesn't mean you will instantly become a great trader but it also can't make you any worse neither.

Study them, learn all the charts and indicators and everything, use them to your advantage and you will be much better than how you started. Secondly talk with people, you do not have to agree with them or even believe what they are saying is true, there are plenty of wrong people out there but at least talk with them and learn what the market sentiment is, price is ran by people and that is why learning what they think is importantly.

Lastly do not go overboard with your investments, investing into a whole new defi that promises 100x return guaranteed is a risky one, and probably scam, but buying bitcoin could only mean you will either lose tiny bit or profit tiny bit.

[Hypnosis00]

The most important thing we need to acquire before others are to be patient. It could be easier to think but definitely the hardest thing to do. All the things can be changed and the future of our trade, not all traders have this attitude that is why many had suffered losses than to succeed. And besides, trading couldn't just be acquired and complete in a day or two, not even in a week that is why patients have placed an important role in trading and even in the other field.

[Renampun]

...

btw, you have sufficient capital suitable to start trading and that's good IMO...
A little advice from me, when trading you have to be fully aware of that, don't be tempted by the market, make transactions when you are sure and don't buy when the price is at its peak, vice versa don't sell when the price falls.

[DoublerHunter]

The most important thing we need to acquire before others are to be patient. It could be easier to think but definitely the hardest thing to do. All the things can be changed and the future of our trade, not all traders have this attitude that is why many had suffered losses than to succeed. And besides, trading couldn't just be acquired and complete in a day or two, not even in a week that is why patients have placed an important role in trading and even in the other field.

^ Patient and self-discipline are the most important. These would be the ones I would give advice to them besides that technical analysis which is the major thing that newbie traders to consider. Being a new trader, there is nothing to hurry upon doing trading, just explore your self in trading and if there is a demo trading feature on an exchange, you can also join and practice. That is the best practice before you will use a real fund on trading. Trading learning is not just a day to study, it is acquired to have several weeks or months much better. If you can afford trial and error then you can rush without skills in trading.

[djmixen]

Hey,

I would like to know some advice and information which will be really helpful in my trading journey. I have invested $500 for the start and I am willing to learn and invest more.

The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.

I am sure we have traders here with vast experience.
Really excited to learn new things.

Since you are new here in crypto space and willing to start your journey in trading skills, I can give you a platform where you can practice trading and also can earn too. If you wanna know how? here is the link https://nominex.io/?r=21375 you can sign-up there for free, once you have an account over this platform you can participate in the Demo arena where the platform can give you a balance of 10, 000$ and you will see this in your balance, but can't able to withdraw it. All you need to do is to use that balance in any of the coins there that you want to trade-in. Once you are one of the participants in the Demo arena you need to become one of the top 30 traders so that you can receive a reward.

[Salauddin1994]

It is never possible to trade without skills must have adequate knowledge and ideas before trading. The best advice for a beginner entrepreneur is to control your emotions there are risks involved in trading so don't be discouraged and try to move forward patiently. Success is never achieved without patience and hard work you have to learn the trading techniques. Try to update yourself over time understanding the difference between trading signals will make trading much easier.

[wiss19]

I will advise a newbie to avoid scam exchanges and all these small exchanges that are not yet known by anyone.

It’s best to stay safe since they are still starting and only be making use of exchanges that are already very popular, because if you keep going for any exchange you see, you will just end up putting your money in the wrong places. And they should be aware that there are websites that are owned by scammers who try to imitate the real ones so that they can lure noobs or people who are noticing to send money to them, and it’s not just your money that will be ending up in their hands, but your information as well.

[QEthelbert]

Learn about technical analysis, and based on behaviour of the market make your own trading strategy. I am focused on a short term trading, because this market can make too huge ups and downs on a long term

[Ayiranorea]

Learn how to predict the market, because more the precise prediction more will be the profiting out of different trades. Know the technical terms and follow the experts in trading. This will help you have an initial point from which you need to create your own portfolio for trading. Once you develop confidence try to do trade with small funds, and the continued practice will help you move forward to the next level.

[wxa7115]

...

The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.

...

Don't do the above, this is very risky for beginners, it would be better if you want to invest so just buy top coins and learn market movements with your technical analysis knowledge. If you want experience then you can do it because who knows it will make a good profit, but I have to say that the risk is huge and takes up a lot of your time. Maybe my advice is to enter a market like xrp, btc and some other altcoins that have manipulative markets. The market will force you to move with dominance demand, this is very good for trading experience and you can understand to choose a good market, this is a bit extreme but in my opinion it is worth it. While here many users have already provided advice on trading basics, strategy and management planning.

I agree, the idea of holding your coins no matter what could apply to bitcoin and maybe to ethereum as well but I will not apply that strategy to any coin that has less than five years in the market, it is simply to risky for any investor and as you may guess that strategy is even more risky for newbies that do not really know what they are doing.

But I know that those newbies are never going to listen to that advice, despite their lack of knowledge they are full of confidence and they think they know better and while that kind of attitude can be positive in many aspects of your life when it comes to trading for the most part it leads to huge losses.

[chip1994]

If you are a holder, I advise you to practice the virtue of perseverance as well as confidence in your decisions. There were many times when I decided to be a holder but didn't believe my judgment from the start. To become a successful holder, you need to determine the level of loss as well as the profit you will sell if the price goes up that range. Do not be too blind to listen to fomo of those who come before. Those are the experiences that I want to share with you, I have been a holder for 5 years, hope it helps you.

[RealMalatesta]

Learning how community reacts is a lot more important than learning how the charts are moving. People are the ones that changes the prices, they buy and sell so they do end up making the changes in the prices, which means you need to learn how to read people and market sentiment.

If you see something that could change people's minds and make it go down, react that way, if you see how charts shows "it should go down" do not believe the charts, check what people think about the chart, that is a lot more important. You may think that a chart that shows price should go down, should mean people will sell, but sometimes that just means people will buy thinking it is bottoming out soon. People are wild, they are usually unpredictable, try to guess what they will do.

[Bitlover10]

I can only give few advise to new traders. First which is very important that don't be greedy in your trade and only choose good coin
Don't enter in hype or fomo. Never buy at top. Also don't take leverage trading and be in spot trading because if you took leverage it can give you totally liquidated. Also research before investing any coin. So these are few things a new trader should follow for risk management.

[TIDOVEE]

The journey has begun, and your determination has something to do about you becoming a good trader. Trading involves risk, however optimistic you may be prepare to loose once in a while, get Connected to virtual portfolio, trading is easier now a days, ofcourse you can trade with just an app, I will advice you not to start trading for people yet, get it right yourself first. You may also get more tips on how to be a successful trader on youtube...Don't stop enquiring.

[tvplus006]

If you are just starting to trade, then you should not use margin trading and futures. Block these sections and never go there in the coming years. Margin trading and futures are designed for experienced traders who, despite their experience in trading, also often receive losses.