Things to know before trading.

[Issa56]

I have been in Cryptocurrency for few years now and I've been meeting different people that are new in trading most of them have been complaining that they are losing their money, then i asked them how they do trade and from my observation I noticed most of them are making thesame mistake i made when I started trading. In trading I believe if you can follow the following rules it will definitely guide you in trading.
1: Do not FOMO, one of the main things to avoid when trading is trying to enter the market when a coin is already pumping, Always buy and hold a coin before it starts pumping.
2. Always do your research before buying a coin and don't depend on what people are saying about a coin. Do your own personal research first before buying any coin.
3. Do not depend on any trading signal from any site or anywhere, trading signals do fail. people giving you the signal are just like you.
4. You don't have to invest all your funds in Cryptocurrency. I believe you should invest the little amount you can afford to lose. Make sure you are having extral money which you can be spending to avoid selling coin at loss sometimes due to emergency.
5. You don't have to be in rush the make profit, you can't just buy a coin today and expect in few hours you will be in good profits. Sometimes it takes days, weeks, or months.
6. After buying a coin always make sure you set your stop loss to avoid losing their money. Sometimes stop loss is important because you can still buy back the coin when the price is down.
I believe this will help people to know things to avoid when trading.

[SquirrelJulietGarden]

First things must know before trading.

- Hodling is better than Trading.
- Hodling is easier than Trading.
- Hodling gives you more time to be free from computers.
- Hodling brings better health for you: physically and mentally.

[WePiggy]

Also...

- Do not trade with all of your assets, HODL bitcoin (perhaps 50%) and then trade the rest with altcoins.
- Do not believe what you read, just look at what these 'analysts' have predicted in the past, and you will see that they are right less than half the time
- Check the Fear and Greed index. When it's extreme fear, buy everything with everything you have, then just wait, be patient and enjoy life, it's easier and less stressful than trading!

[cryptoaddictchie]

Hodling is better than Trading.

Others I agree but this one is subjective. Yes it could be easier cause you only need to wait but the word "better" might be different from others perspective. From those trading with huge high rate of profiting and can easily understand the market movement then they may not agree with this.

I am both holder and a trader and I can say that there are pros and cons to both that everyone can justify with.

[passwordnow]

First things must know before trading.

- Hodling is better than Trading.
- Hodling is easier than Trading.
- Hodling gives you more time to be free from computers.
- Hodling brings better health for you: physically and mentally.

And if someone can't trade, there's always the choice of just holding alone. All of those that have been said is true except the last one. Holding is also affecting mental health if you're too anxious with the price especially if there are corrections and just as the traders, you are also affectionate to the market. So if someone understands trading and is aware that it's not for them, there's always the other way around and that is through holding.

[israt1@]

However, I give a piece of advice to those who want to make a profit in a short time. First of all, no token can be bought at a higher speed in the market. If it is equal to or below the ICO price, then buy it. Sell ​​if 5% increases.For example, if your token purchase increases by 5% in 100, then 5% profit.When it goes down a little, buy again. Sell again according to the previous one.perday 5% to manth 150% profit.
 You can trade in the method.

The profit and loss decision is yours

[isaac_clarke22]

~

This is why I stopped doing my day trading back in 2019. Well it was not only technically due to how easy it is, but to how no choice I had with my job and that.
I only have to hodl after all. It was a fun experience though, still. Hodling still sometimes stresses ones out when s/he keeps refreshing the price over and over.

[Masplanc]

When trading make research and study the market very well. One have to think big of achieving a good results, though sometimes their are losses in trading. One shouldn't be to quick to make earning.

[averagestudent]

6. After buying a coin always make sure you set your stop loss to avoid losing their money. Sometimes stop loss is important because you can still buy back the coin when the price is down.
I believe this will help people to know things to avoid when trading.

What do you mean by this? Can you give me some concrete example how to apply stop-loss after buying a cryptocurrency?

[Nathrixxx]

I do advise people not to invest on what they can afford to loose, having this clear understanding, make a progress to research about it, make consultation both in person and online, resist any iota of fear and verify the authenticity and genuity, put down your wallet keys written in a book and make it confidential, know your tax billing schedule and choose a considered reasonable trading platform that best suite your choice.

[Rengga Jati]

-snip-

Most newbies are experiencing these.
Getting FOMO, following hype only, being panic (sell or even buy), willing to be rich very soon, willing to get high profits very soon because the people they are following are able to take profits highly and significantly. Sometimes, they only focus on seeing other people getting richer or getting more profits, but he is not able to do that and then falling. Big regret and disappointment, they will face these.
That is why if we are starting to trade, better to learn at first about the crypto, the strategy, risks, and everything, including being ready for any kind of risks.

-snip-

Number 2-4 may be true enough, moreover, if the funds are free funds in which we will not use them for a long period or even ready enough and not mind if this will lose someday.
But about number one, I think it will depend on each person. I know that trading will really take our time much. But, for those who are doing trading often and also well, I think that trading is also a good choice. Different people may have different strategies and also choices.
And one person may also do both trading and also holding (depend on fund diversification).

What do you mean by this? Can you give me some concrete example how to apply stop-loss after buying a cryptocurrency?

Read these and many more sources about Stop Loss or CL
https://www.investopedia.com/articles/stocks/09/use-stop-loss.asp
https://academy.binance.com/en/articles/what-is-a-stop-limit-order

[AniviaBtc]

First things must know before trading.

- Hodling is better than Trading.
- Hodling is easier than Trading.
- Hodling gives you more time to be free from computers.
- Hodling brings better health for you: physically and mentally.

It depends on the guts that the investor have, if he only wants to play safe and patient enough to hold then do it.

But if people are knowledgeable and determine to explore and deal with the market volatility then he should study technical analysis and make his money grow.

Not all people are patient enough to just hold and store their money in one place, if you are scared of risks in the market then trading is not for you and your growth will become much slower compared to those who are working hard to improve their trading investment.

[Oshosondy]

Trading is very risky but some good traders are turning it to good profit, there are people that trade daily and earn daily, they know the right time to enter and the right time to close, but trading is not for everyone but holding can be for everyone because it is easier than trading.

3. Do not depend on any trading signal from any site or anywhere, trading signals do fail. people giving you the signal are just like you.
4. You don't have to invest all your funds in Cryptocurrency. I believe you should invest the little amount you can afford to lose. Make sure you are having extral money which you can be spending to avoid selling coin at loss sometimes due to emergency.

All people that depends on signal and do not know how to trade for profit will lose, that is just it, you are right. If I have $100, I can only use $10 to trade use $90 to invest, it is good to use very low amount of money for trading because it is risky but profitable if learned well.

[Findingnemo]

A thumb rule for anyone to be a successful trader is "Buy low and Sell high".

No matter what kind of trading your are trying to do with crypto but you shouldn't have to violate the rule 1 then you.will ne a profitable trader and the experience can teach you further things better than reading from a book.

[boyptc]

And learn how to stop loss.

Traders have to cut their losses if it's necessary but for holders, losses that happen within a day doesn't really matter.

But for traders, it is very important to check it out and cut the loss they have incurred before it goes higher.

[Darker45]

I have been in Cryptocurrency for few years now and I've been meeting different people that are new in trading most of them have been complaining that they are losing their money...

I've also been in crypto for a few years and my experience is the same. I've met people who tried to make money by trading cryptocurrencies and almost all of them are disappointed, got stressed, and eventually quit. I myself tried to actively trade only to find out that the idea of earning through trading is a lot easier imagined than done. I was a better trader only when the market is all green. Well, perhaps crypto trading is not made for all of us.

[pooya87]

First things must know before trading.

- Hodling is better than Trading.
- Hodling is easier than Trading.
- Hodling gives you more time to be free from computers.
- Hodling brings better health for you: physically and mentally.

It depends on "what" you are holding. Not everything has enough long term potential to be held, majority of altcoins for example will surely be worth lower than their current prices. The only thing having long term potential is bitcoin which is why holding has always worked very well for it.

[Josefjix]

Number 1 rule have to be you can make much gains by buying low and selling high than buying high and thinking you could make so much gains in a short while. You will have to reduce the greed index level in your mind, because no matter how much you hope to make it can never be bigger than the gains you have been making. Always HODL, be disciplined. Don't chase your losses. These are basic facts.

[elevates]

First things must know before trading.

- Hodling is better than Trading.
- Hodling is easier than Trading.
- Hodling gives you more time to be free from computers.
- Hodling brings better health for you: physically and mentally.

Holding is different than trading. Holding means you are dependent on the market for your profit. Trading helps you to generate instant profit if you know what you are doing. Risk in trading is significantly high but profit too. Also if everyone holds then how do you think your holded asset will generate profit for you. Therefore never compare holding with trading.

[Alisha-k]

If you are just holding a coin then certainly you aren't trading you are only investing in the project. Even though both can be analyzed using both fundamental and technical analysis trading is very much different from holding. In holding you have to do a deep research about the project while for trading all you need is getting a good point in the market where you can comfortably buy or sell placing your stop loss and take profit  for risk management purpose