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Author Topic: What you should need to consider before trading cryptocurrencies?  (Read 369 times)
JamesIrvin
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October 27, 2020, 01:10:45 PM
 #1

Learning about trading with cryptocurrency is good and also everyone is interested to learn about it. You can get started this process without money, but once you get more than one wins under your belt it is very easy to dump money into the investments recklessly. Of course, making more money with crypto trading is easy and also it is very important to be careful. If you are new to crypto trading, this article will give tips before starting your trading.

To Know More, Visit Here <> Steps to Check Before Trading Cryptocurrencies
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October 27, 2020, 04:29:44 PM
 #2

Cryptocurrencies are relatively new to us even though they have a history of more than 10 years since the introduction of Bitcoin. Cryptocurrencies represent a type of technology, a company, or an asset through the NFT. It is important to have a clear understanding of cryptocurrencies, how they operate on the blockchain and the associated technologies. Since cryptocurrencies are between economics and technology, we must be knowledgeable in both of these fields.





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October 27, 2020, 05:23:49 PM
 #3

First of all, you need to understand how crypto and blockchain work. You also need to understand that these are still high risks.

Everything feels risky during a recession. A lot of people might be drawn to btc now as it hasn't crashed as bad as the rest of the stock market is starting to (or some even haven't recovered yet)...

But I still consider bitcoin a lot more risky than other assets.

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October 27, 2020, 05:46:55 PM
 #4

...
But I still consider bitcoin a lot more risky than other assets.

Yes, it is risky, but it also brings higher yields. Besides, what's life without a few risks? Wink

OP, there are numerous online sources where beginners can inform themselves about the basics of trading. I would definitely recommend learning the basics of technical analysis. But real knowledge will only come with experience, so you need to roll up your sleeves and get to work. No pain, no gain!

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October 27, 2020, 07:17:59 PM
 #5

Learning about trading with cryptocurrency is good and also everyone is interested to learn about it. ...

I didn't bother to read the article, but I can tell you the most important thing to know about trading: most traders lose money.

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October 27, 2020, 08:12:41 PM
 #6

making more money with crypto trading is easy
This is the thought of most newbies when they see people excelling in bitcoin investments. They all think that it's easy as they put money and it'll just grow eventually in the quickest time that they can ever imagine.

I say that description like this is misleading the newbies. For experienced trader and holders, this isn't much of a worry but to the new ones, this is worrying. That's why they're losing more money because of descriptions like this.

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October 28, 2020, 02:27:39 AM
Last edit: October 28, 2020, 02:40:31 AM by error08
 #7

Learning about trading with cryptocurrency is good and also everyone is interested to learn about it. ...

I didn't bother to read the article, but I can tell you the most important thing to know about trading: most traders lose money.

Agree, trading cryptocurrencies require lots of patience to wait and precise calculation to determine whether to buy or sell, take a long or short position.
in this term mean knowledge and information are fundamental for everyone who wants to dive into the trading world.
because without it traders will fail to predict market movement, then the chance to lose in the market even higher.

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October 28, 2020, 04:25:27 AM
 #8

First of all, you need to understand how crypto and blockchain work. You also need to understand that these are still high risks.
Crypto and stock have different risk. Id say crypto is more volatile, and unstable. Fundamentals really have huge impact on crypto market, while technical analysis sometime useless for some coin that is so volatile. They can also do trading without much learning blockchain. Trading only involves on market. As long as their good on analysis and parameters, does it matter to know the basic of bitcoin like sending and understanding blocks of it how it works? When their purpose is to gain profits from chart analysis?





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October 28, 2020, 08:33:01 AM
 #9

You can get started this process without money, but once you get more than one wins under your belt it is very easy to dump money into the investments recklessly. Of course, making more money with crypto trading is easy and also it is very important to be careful.

Are you referring to free coins or airdrops which they give to some users? If yes, it is a small amount of money and requires a lot of patience to save more amount of that for you to be able to trade. In trading, it will somehow require you to deposit money into your account but if you are just a newbie in trading you must consider learning how trading works and you should explore the site you want to trade your money.  Keep in mind that trading is also risky  so we better be careful.

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October 28, 2020, 11:40:49 AM
 #10

We have to consider our preparation. In every opportunity that we encounter, we should always think how prepared we are? Trading cryptocurrency is not a gamble wherein even you really don't have an idea if you know the rules, you can win instantly. In some ways, you can beat the market but most of the time you lose if you don't have knowledge and preparation.
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December 06, 2020, 12:57:42 PM
 #11

We need to think about our arrangement. In each open door that we experience, we ought to consistently consider how set we up are? Exchanging digital money isn't a bet wherein even you truly don't have a thought in the event that you know the standards, you can win right away. Some, you can beat the market however more often than not you lose on the off chance that you don't have information and arrangement.
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December 06, 2020, 01:38:31 PM
 #12

Crypto market is extreme risk and high volatile before starting trading you need to follow some instructions which is common in market.

Patience
Dont invest more than you can afford
Have proper knowledge on crypto
Also don't be greedy

I would always recommend to plan before trading if you are investing in a coin research as much as you can only then you can understand how to trade like at what price you need to buy and sell, if you are all set then mive on to trade.


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December 06, 2020, 02:27:39 PM
 #13

Before trading you should know that your going to have a lot of sleepless night, I am no expert to trading but I always consider how much is my capital and how much I am willing to lose if the market went into a crash you should also set what altcoin your going to buy and do a thorough research on it, never buy in an impulse or in an overly hype token or coin some do fake pumps and you might get into traps, lastly beer and trading at the same time don`t mix well.   
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December 06, 2020, 02:29:29 PM
 #14

I went through the article and want to make some comments. Securing email is important even if a person doesn't plan to trade, so it's not trading-specific. Moreover, did you mean 2FA for the exchange (say, email and phone) or actually for email? I think it would be too annoying for email if one uses it all the time (like I do), but extra security for exchange, on the other hand, it a good idea. Secondly, the article is clearly shilling for Koin Bazar, an exchange I've never heard of and couldn't find in the top-100 or even top-200 exchanges on coingecko. So calling it "very well established" is a vast overstatement. Moreover, the article contains a lot of mistakes which are sometimes just annoying, but other times make the text confusing (for instance, "if you can afford your lose then don't invest more".
Overall, the arguments are rather tips on how to keep the money safe than on how to profit from trading.

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December 06, 2020, 03:58:20 PM
 #15

I disagree with 'take an expert advice', as a trader you have to make your own decision. You have to know where you should buy and sell based on your analyst, don't take a decision based on someone else suggestion.

I've heard a story, there is a lecturer who instructs two students to invest in the stock market. But he gave different assignments to the two students, where student A was to invest and was placed in a place that was far from information and student B was placed in a place that had a lot of information, be it newspapers or suggestions given by experts.

But do you know who gets the most profit? student A who get the most profit. The reason is quite simple, student A made a decision with his rational sense, but student B made a decision with his emotional sense because he had a lot of information which in the end will confuse himself. A good trader is when he experiences a loss he will blame himself and evaluate all the mistakes that have been made. You will not blame yourself if you take a dicision from other people suggestion.

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December 06, 2020, 06:30:06 PM
 #16

Crypto trading is most profitable way to generate profit from crypto. It is looks soo much tricky but is it really tricky. Different people different Opinion.  But in my opinion maybe its not. Reason, in every platform in every work what we need? Learning, expertism, experience,  tricks, intelligence thats it. Without that things we can't be successful in any platform sp thats a thing what we need in cryto trading if you learn and achieve technical thing in crypto trading platform then definitely you will get better result. That's it.

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December 06, 2020, 06:35:40 PM
 #17

The most important thing is that you make up your mind that you just MIGHT lost the money that you are investing/trading. If losing this money won't affect your day-to-day life then Proceed. If you are gonna end up with a hell of a debt then Quit.

At the end of the day - it's your money. Your Winning or Losing won't affect us.
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December 06, 2020, 06:45:05 PM
 #18

Learning to trade cryptocurrency is fun, and anyone can learn to do it. You can get started without a ton of money, but once you get a couple of wins under your belt it’s easy to justify dumping money into investments recklessly.
While you can, of course, make money with trading it’s also important to be very careful. This is particularly true if you’re new to cryptocurrency, and that’s why in this article we’re going to give you some tips to follow before you start trading!
1. Secure your email address
2. Learn proper wallet safety procedures
3. Find a reputable exchange
4. Set reasonable goals for yourself
5. Don’t invest more than you can afford
6. Learn at least a little about TA and FA
7. Be careful with what you don’t understand
8. Don’t get greedy
Follow these tips and remember to treat failure as a learning experience and you should do okay.

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December 06, 2020, 09:41:29 PM
 #19

Learning about trading with cryptocurrency is good and also everyone is interested to learn about it. You can get started this process without money, but once you get more than one wins under your belt it is very easy to dump money into the investments recklessly. Of course, making more money with crypto trading is easy and also it is very important to be careful. If you are new to crypto trading, this article will give tips before starting your trading.

To Know More, Visit Here <> Steps to Check Before Trading Cryptocurrencies
^ Thank you for the link that you have shared but I disagree with what you have said that crypto trading is very easy to gain profit. Trading is not just easy to gain money, it will probably have a rekt if you are expecting too much on it. However, the link was so helpful if you have to search for a good article to start trading and that is a good practice to first a knowledge on how to trade before you will step up in trading. For me, gambling activity and trading activity are the same things that involves risk if you will hoping to gain money on this.

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Yamifoud
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December 06, 2020, 10:48:14 PM
 #20

These are the thing that we need to consider, IMO...

* Price (start trading when the market is not bullish)
* trading platform ( must have to use reputable and high volume exchanger)
* Capital ( please keep in mind that more capital, more gains)
* Self-preparedness ( knowledge, skill, and strategies)

Everything must be secured first prior to start trading otherwise, you only suffered losses. If are not prepared yet, better not to push ourselves because this is not just an easy task and probably, not an easy money scheme, we need to work on it in order to achieve what we aim for.

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.Duelbits.
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