What to avoid as a beginner in trading Bitcoin?

[isaac_clarke22]

Ignore panic sells.
Because many times new traders sell their tokens while the price dumps. But its a wrong decision Because gradually the price goes up then the traders regret.
So its better to strong hold and avoid panic sell.
It’s  a first step to trading profession.
Be aware of this kind of situation. Stop selling in losses.

Ignore? That's actually the hardest thing to do actually.
Not that one could even ignore his/her own natural emotion.
Panic selling are common now, especially back when BTC plummeted down to <4k.
It was a deep and sharp plunge for its price. There were many panic sellers that time, and I wonder where they're now actually.

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[Emitdama]

on the surface it may seem incredibly easy to simply control your emotions but when the market is crashing or going up a lot it is difficult to control you especially if the market is going against your prediction, because that is precisely when your emotions are tested and unfortunately most people fail to control them, take a decision based on them and then they lose their money, quite honestly I do not know of a way to train to control your emotions other than to have a very clear system and then follow it regardless of what you see happening on the market.

This is totally true,  a lot of people will tell you to control your emotions but it is easy to do that, I admit that as well.

Anytime the market goes against me I get worried, and my worries are that the market can go down and then take years to go up, you just can’t tell, that can be when you invest during a bullish market like this and when it reaches the highest point and it crashes there will be no way that you’re going to be able to recover the money, for long the money will be at a very low point until there is another year for a bullish market. That’s the fear of most people, they definitely know that it will go up, but the question is when?

[Josefjix]

The first thing to take into consideration is any money brought to trading should be considered a lost one until you're able to take profit from it. Reason it is advisable to use only spare money and don't ever borrow to trade bitcoin or any altcoin. It is always dangerous.

[darewaller]

The first thing to take into consideration is any money brought to trading should be considered a lost one until you're able to take profit from it. Reason it is advisable to use only spare money and don't ever borrow to trade bitcoin or any altcoin. It is always dangerous.

Trading with spare money is more like gambling with spare money. If you are a serious trader then I don't know why there is any hesitancy to invest some money because you must be serious about it. Any business you do requires some kind of risk to be taken and the same goes with trading. I agree that initially don't invest too much because you are in the learning phase for a couple of months in starting and being the crypto market so volatile, it can be nasty if you deposit big and lose it.

The only suggestion I would give to new traders is that, don't come with huge ambitions into trading and keep an attitude to learn because trading is like education where you need to have a humble and learning attitude and like you cannot score good marks without proper preparation and knowledge, similarly you cannot earn money in trading without good knowledge and understanding of the market.

[dimonstration]

The first thing to take into consideration is any money brought to trading should be considered a lost one until you're able to take profit from it. Reason it is advisable to use only spare money and don't ever borrow to trade bitcoin or any altcoin. It is always dangerous.

We should not considered it as a lost money but more as an investment, if we treat-it as lost money we may not have any determination to make it grow since we accepted it as a lost. I prefer to think of it as a way to make it grew by trading in it and studying how to make it grew. It will also help me to be determine to treat it well to study more trading to avoid any losses. We should be positive to attract the good timing to earn more in trading.

[pragna]

From the last 6 mounts, beginner can start from any point of market of BTC as BTC now in best position and day by day its going up. As a beginner must have to keep patience in mind so that in down market they can stand for one or two week or even one month. Once upon a time BTC market crush was so high and there beginner got big problem  but now condition changed and just carry patience for rest batter days.

[kramchers]

on the surface it may seem incredibly easy to simply control your emotions but when the market is crashing or going up a lot it is difficult to control you especially if the market is going against your prediction, because that is precisely when your emotions are tested and unfortunately most people fail to control them, take a decision based on them and then they lose their money, quite honestly I do not know of a way to train to control your emotions other than to have a very clear system and then follow it regardless of what you see happening on the market.

This is totally true,  a lot of people will tell you to control your emotions but it is easy to do that, I admit that as well.

Anytime the market goes against me I get worried, and my worries are that the market can go down and then take years to go up, you just can’t tell, that can be when you invest during a bullish market like this and when it reaches the highest point and it crashes there will be no way that you’re going to be able to recover the money, for long the money will be at a very low point until there is another year for a bullish market. That’s the fear of most people, they definitely know that it will go up, but the question is when?

The answer is no one knows, that's why most people knew  also that the market is very unpredictable, this is the main reason why most of the community here in cryptocurrency industry can't tell the exact date and time also the precise price amount could it be. The thing. We can always give is always based in our own opinion or speculations.

[RealMalatesta]

Anytime the market goes against me I get worried, and my worries are that the market can go down and then take years to go up, you just can’t tell, that can be when you invest during a bullish market like this and when it reaches the highest point and it crashes there will be no way that you’re going to be able to recover the money, for long the money will be at a very low point until there is another year for a bullish market. That’s the fear of most people, they definitely know that it will go up, but the question is when?

The answer is no one knows, that's why most people knew  also that the market is very unpredictable, this is the main reason why most of the community here in cryptocurrency industry can't tell the exact date and time also the precise price amount could it be. The thing. We can always give is always based in our own opinion or speculations.

I never really understood people who talk about the market like it can be predicted. I have seen people who say that they know what the market will do, and I have seen people who ask others what market will do, when those two find each other that is always a very upsetting end and the consequences are always at least one of them losing money, even if not in short term it is like that in the long term. This is why I think it is quite obvious that we are living in a world where people can fool each other using their emotions as weapons.

I personally never believed that bitcoin could be predicted, none of the coins could be, and that is why I never trusted anyone who said they "know" what it can do. I know it can be a million dollars and it can be a dollar, I know both of them seem quite impossible these days but the point here is the fact that it is going to be ANY price between those levels, anyone that gets more specific ends up risking it.

[SacriFries11]

From the last 6 mounts, beginner can start from any point of market of BTC as BTC now in best position and day by day its going up. As a beginner must have to keep patience in mind so that in down market they can stand for one or two week or even one month. Once upon a time BTC market crush was so high and there beginner got big problem  but now condition changed and just carry patience for rest batter days.

Analyzing only BTC chart will help you to pointed out what will the next move in the market. Some cryptocurrency depends on how BTC reacts but some are independent depending on the news and other thing that can affect the project. Creating a journal will help you determine when you make mistakes and when you have good entry and exits, technical analysis is not always right and I think fundamental analysis is still the best way to determine if the price action will go up. Beginners needs to be patience and learn to be contented even the profit is small (profit is profit).

[Kittygalore]

From the last 6 mounts, beginner can start from any point of market of BTC as BTC now in best position and day by day its going up. As a beginner must have to keep patience in mind so that in down market they can stand for one or two week or even one month. Once upon a time BTC market crush was so high and there beginner got big problem  but now condition changed and just carry patience for rest batter days.

Not just patience, OP has to also be strong and doesn't get easily riled up by emotions to the point that you are selling your bitcoin because you are panicking. Journals based on the testimony of my friends can help you and also try to log all of your entries in trading to check your progress.

[bitjoin]

Never make decisions when you're emotional, because the consequences will damage the portfolio that you have. As a newbie trader, try to take your time to learn all the elements contained in cryptocurrency. The crypto market can be said to be more difficult than traditional assets and stocks, due to high volatility and the risks involved, so it takes proper planning and execution in order to make a profit.

[Hypnosis00]

Never make decisions when you're emotional, because the consequences will damage the portfolio that you have. As a newbie trader, try to take your time to learn all the elements contained in cryptocurrency. The crypto market can be said to be more difficult than traditional assets and stocks, due to high volatility and the risks involved, so it takes proper planning and execution in order to make a profit.

Emotions make you feel that you are a human but that something we have to put some limitations especially when we are in trading. That is pretty hard and controlling our emotions is not so easy. However, as we pursue becoming a trader, a successful trader then we should have to focus on it. I know it won't work so fast but gradually we can do it, only we have to think that this could never give us help to make a profit but instead, this could help us to make losses.

[goldade]

As a beginner in trading, you're actually prone to making quite a lot of mistakes. One of the commonest mistakes is falling for scams. Avoid anything that is too good to be true. Nobody would give you free money so avoid any schemes that promises to give you free money or coin.
Secondly, avoid trading with your emotions. It is very easy to allow fear and greed affect your judgment in mankind trading decisions. Once you start trading with your emotions, you're on way to losing it all.
Thirdly, avoid not using the stop-loss. No matter how good you are, never ignore the stop-loss. That's actually one way to lower the risks of losing all

[DarkDays]

While you may think that other people have great suggestions (remember they do not have your best interest at heart) you must always think for yourself and do not be led by their judgement - people can have a stake in whatever they say.

About Panic - Do not panic, always do your DD and then decide for yourself.

Do not follow the herd, be your own shepherd.

To do this you must have the knowledge and skills, so before entering into any market make sure you have some info about how the exchange works, what are order

books, what trading volume is, stop orders etc. Get the knowledge, then put that into practice, and be pragmatic at all times.

[nelson4lov]

I can't say anything that hasn't been said already. I just wanted to add that you should continue to learn, learn and learn and don't forget to practice everything you learn on a live chart even if you don't end up taking the trade, you should keep track of it and see how well your analysis fared. Beginners are often quick for the easy way out instead of taking time to put in the work. Since the market is always moving, it's a wise decision to constantly update everything you know and try it these challenges.  Also don't be too reliant on trading signals. It's better to learn how to fish instead of being spoon fed.

[Lanatsa]

1. Never be greedy
2. Always follow plans and always set out back up plans if things doesn't turn out to be well
3. Proper capital management
4. Don't get affected with fud and shills
5. Emotion control
6. Don't chase up to be profitable or chase up losses to break even.

Basic things but actually hard to be applied on someones situation but these things is a must.

[fahmimajannat]

You should avoid lots of things. Like

1. Avoid panic sell.
2. Avoid margin trading
3. Avoid greediness
4. Avoid holding after your target reached
5. Avoid investing depending  on someone else gossips
6. Avoid panic buy also. Identify the resistance line and support line

[rhodelmabanal]

You should avoid lots of things. Like

1. Avoid panic sell.
2. Avoid margin trading
3. Avoid greediness
4. Avoid holding after your target reached
5. Avoid investing depending  on someone else gossips
6. Avoid panic buy also. Identify the resistance line and support line

Basic things but very important as a beginner. Panic selling is really the number one problem on some beginner because as a beginner they can be easily drawn by thier emotions and when the price of the coin that they hold is down they cant hold it and sell it quick, more of the beginner has a weak hands, so i agree on that avoid panic selling this was very important.

[kram31]

Starting out with cash..? Does journaling truly help ?

For the newbie like you, I think the only thing I could say is never get easily hype with others sweet words coming from the team in the telegram channels, if ever you are planning to invest into a new projects here in crypto space. Then, don't push yourself in a hurry to earn quickly, even we know that we need to earn instead, be patience and observe everything here especially for the mistakes of others they've done wrong here in this field of business industry.

[JoMarrah Iarim Dan]

what needs to be considered is as much as possible to control emotions when prices are falling. and indeed this is the world of cryptocurrency growth and decline is a must. and of course you have to know where your money will be invested.

I tried trading and yes do not let your emotions drive you. It will not give you any good result. So much disappointments and losses are the things I received. Being too emotional will also makes you greedy. For me, when you your life to be involve in crypto, that will be a never ending learning process, we that have lot of experience still seeks for tutorials and tips, so as a beginner do not be too lazy to read and watch tutorials. It will be your new best friend.