An advice for newbies and plebs

[goldkingcoiner]

2022 - It might be
2023 - It might be
2024 - It might be

This post bothers me for a multitude of reasons. Why would you say something might be if you have no evidence pointing towards such an outcome? The day after next year, the internet might be banned all over the world and Bitcoin could become completely worthless. Will it happen? 99.99999% probability of no.

This is not really giving anyone advice this is just trying to impose hodling on newbies. While hodling, in fact, is the smartest thing to do with your crypto, there is no need for further speculations.

[1715265909]

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[TheGreatPython]

If you are optimistic about bitcoin then you don't need to worry about the past price charts and hold for long term rather than indulging in trading.If you see in the long run profits have been delivered to the investors is I speak solely about Bitcoin and that's the best thing.We can't predict the future with exact precision and there could be some factors that decide how will the prices react in future and this time there are hopes it will get high this year but still make your choice.

Everyone of us here that involved in bitcoin are for sure optimistic with it. Past is past and what is important is the present although there are some that based their analysis in the past price of bitcoin to tell if the future movements are going to be upward or downward.

I think this is somehow useful because even me I see that there are years where btc seem to follow such pattern. On the other hand, the term trading doesn't only mean of selling but under this term, it also means to buy. You trade your fiat or whatever you have for btc and then you hodl that btc. Trading now ( buying ) is a good thing to do since price of btc is still cheap.

[Silberman]

Simply stop day-trading, or any more active form of trading. Preserve your capital and wait for the market to be in the same situation like 2020 again, when investors were excited to throw their money in crypto. The market narrative has changed, people are not as excited. The market has always followed a bull - bear cycle. Save your money, and wait for the next opportunity.

2022 - It might be a bear market.
2023 - It might be the next opportunity to buy the Bitcoin DIP.
2024 - It might be the new BULL MARKET.

Just as it is important to know when to enter the markets it is also important to know when to stay away from them, the market conditions that we are witnessing are not exactly the best so staying away from the market is not a bad idea, also it is not like this is the only market that exist, there are many other markets, so until the market begins to show strong signs of improvement then it could be a good idea to invest on those other markets for the time being.

[Etranger]

We all mention hold, hold, hold, but no one mentions for how long, or what determines when to stop holding and convert to cash, or what else. You're mentioning for long-term, how long is that period? We've also seen examples of holders who eventually gave up after Bitcoin's crash in 2017. Thus, I believe that the holding strategy is a bit vague.

Certainly, we'll have to convert to fiat eventually, however, Bitcoin and Ethereum aren't the only reputable coins, such as Binance. Wasn't aware that Litecoin had dropped from top cryptocurrencies, hadn't noticed all this time.

It is also very rare to notice what percentage is considered sufficient income. When exactly to leave the position, to cache out, when to withdraw income? I often hear from more experienced members of the forum that I need to close the position when "the risk-return ratio is satisfactory for me", "when I am satisfied with the percentage". But how exactly can I know what percentage you I to be satisfied with in a particular situation?

When I was just starting to learn the basics of crypto trading, I thought closing the position in 1-2 days with a profit of up to 2% was just fabulous. Then I saw how people did more than 30% in one operation in a few hours. I rethought my approach to "adequate profits" after almost every deal. So far, I have not figured out what I can start from, where is the range in which to close the position, so as, on the one hand, not to feel lost opportunity, and on the other - the unnecessary risks that lead to losses.

[crzy]

A good analysis for a newbie or others who don't understand the crypto market. does not mean it can be trusted with certainty but at least an illustration if in the future this analysis occurs. For a trader, maybe if the market is falling or rising, he will still act, especially a day trader, no matter when and wherever they try to do their best. This downturn in the crypto market is a good way to buy crypto at a low price and store it. but remember that we have to be patient and wait until the market rises again and stabilizes so we can get a profit. Don't let us give up in the middle of the road and sell it because in a panic the price keeps dropping, that's a fatal thing.

Trading is also a test for your patience, especially if you are on a medium term trader since your target price can’t be hit easily and still no assurance for that if the market will start to recover or not. We should continue to understand the market, every newbies have to do their best to learn the process because trading is a huge responsibility so you can make your money grow. The market can go on a different direction, you should be able to track that and follow the trend.

[Captain Corporate]

Trading is also a test for your patience, especially if you are on a medium term trader since your target price can’t be hit easily and still no assurance for that if the market will start to recover or not. We should continue to understand the market, every newbies have to do their best to learn the process because trading is a huge responsibility so you can make your money grow. The market can go on a different direction, you should be able to track that and follow the trend.

 It is basically a waiting game. It is like holding something up and whoever holds it longest without ever dropping it, will be the winner, kind of like a survival tv show game. At the end of the day person who sees the fact that no matter what they do, the price will always go up in the end, and recovers with that knowledge, will be the winner. The one that thinks they can sell, get lower, and sell at higher will sometimes win and sometimes lose big time. This is the battle, the person who wants to be active constantly versus the person who is fine with making profit no matter how long it could take them to do that.

[LastKiss]

A good analysis for a newbie or others who don't understand the crypto market. does not mean it can be trusted with certainty but at least an illustration if in the future this analysis occurs. For a trader, maybe if the market is falling or rising, he will still act, especially a day trader, no matter when and wherever they try to do their best. This downturn in the crypto market is a good way to buy crypto at a low price and store it. but remember that we have to be patient and wait until the market rises again and stabilizes so we can get a profit. Don't let us give up in the middle of the road and sell it because in a panic the price keeps dropping, that's a fatal thing.

Trading is also a test for your patience, especially if you are on a medium term trader since your target price can’t be hit easily and still no assurance for that if the market will start to recover or not. We should continue to understand the market, every newbies have to do their best to learn the process because trading is a huge responsibility so you can make your money grow. The market can go on a different direction, you should be able to track that and follow the trend.

Mostly those people who want to earn quick profit who doesn't have any patience, Also we should use our money that we can afford to lose to prevent any stress and panic happening when the market didn't go like what we want. Dont ever use your hot wallet for an investment when you have any emergency you dont need to cash out your trading asset and you can keep it for the long term.

[Kelvinid]

Trading is also a test for your patience, especially if you are on a medium term trader since your target price can’t be hit easily and still no assurance for that if the market will start to recover or not. We should continue to understand the market, every newbies have to do their best to learn the process because trading is a huge responsibility so you can make your money grow. The market can go on a different direction, you should be able to track that and follow the trend.

 It is basically a waiting game. It is like holding something up and whoever holds it longest without ever dropping it, will be the winner, kind of like a survival tv show game. At the end of the day person who sees the fact that no matter what they do, the price will always go up in the end, and recovers with that knowledge, will be the winner. The one that thinks they can sell, get lower, and sell at higher will sometimes win and sometimes lose big time. This is the battle, the person who wants to be active constantly versus the person who is fine with making profit no matter how long it could take them to do that.

That should be backed up with a concrete plan and we have to responsibly take action on our trade. This is like a waiting game indeed that we need to extend our patience as well. And the usual reason why many traders had fail it is due to a lack of patience, they usually think negatively and have worries inside. Newbies need to understand the risk and much more to understand the volatility of the market coz if this is hard for them, there is no way they will succeed and this is not really meant for these people.

[Etranger]

That should be backed up with a concrete plan and we have to responsibly take action on our trade. This is like a waiting game indeed that we need to extend our patience as well. And the usual reason why many traders had fail it is due to a lack of patience, they usually think negatively and have worries inside. Newbies need to understand the risk and much more to understand the volatility of the market coz if this is hard for them, there is no way they will succeed and this is not really meant for these people.

While reading your post, I recalled similar recommendations from other forum members (which were often not specific enough, but rather hints on what to do if you have an extremely stable mental state), but only now I have an idea on how to implement these tips in life. I think that the risk should not just be accepted as something unpleasant, but necessary. I believe that it should be fully accepted as a necessary basis for possible profits. Only through risk are revenues possible that traditional financial instruments, and especially hired labor, do not generate. This is a kind of investment. We invest our time to get a salary. And to make a profit on the crypto market we invest our acceptance of possible risks.

[Mauser]

I agree with you that why new trader or beginner shouldn't jump straight into day trading. There is a lot of risk involved and while there is a chance to make a big returns quicky, it can also mean a lot of money quickly. The biggest risk we face in day trading, is to over trade. Buying and selling without making a return after cost. Transactions cost can eat up a lot of the profits.
Waiting till 2023 for asset prices to hit rock bottom might not be the best strategy. Do we really expect the Russia Ukraine war to continue until 2023? I don't hope so. As soon as there is a ceasefire the world should be relieved and some normality should come back. It's going to take years for the conflict to be solved, but asset prices should rise again when there is light at the end of the tunnel. Being atleast partially invested now will let us profit from it.

[newdevices]

Trading is also a test for your patience, especially if you are on a medium term trader since your target price can’t be hit easily and still no assurance for that if the market will start to recover or not. We should continue to understand the market, every newbies have to do their best to learn the process because trading is a huge responsibility so you can make your money grow. The market can go on a different direction, you should be able to track that and follow the trend.

 It is basically a waiting game. It is like holding something up and whoever holds it longest without ever dropping it, will be the winner, kind of like a survival tv show game. At the end of the day person who sees the fact that no matter what they do, the price will always go up in the end, and recovers with that knowledge, will be the winner. The one that thinks they can sell, get lower, and sell at higher will sometimes win and sometimes lose big time. This is the battle, the person who wants to be active constantly versus the person who is fine with making profit no matter how long it could take them to do that.

That should be backed up with a concrete plan and we have to responsibly take action on our trade. This is like a waiting game indeed that we need to extend our patience as well. And the usual reason why many traders had fail it is due to a lack of patience, they usually think negatively and have worries inside. Newbies need to understand the risk and much more to understand the volatility of the market coz if this is hard for them, there is no way they will succeed and this is not really meant for these people.

Trading requires complete concentration and with newbie traders it can be said that they still lack experience,
mandatory thing for newbie traders before starting to trade they must really understand the market,
trading is not just about buying and selling coins so prepare everything

[tygeade]

Trading requires complete concentration and with newbie traders it can be said that they still lack experience,
mandatory thing for newbie traders before starting to trade they must really understand the market,
trading is not just about buying and selling coins so prepare everything

That concentration skill is something that is underestimated by people by a lot. It is something that is very important but at the end of the day we are talking about something that is the key to success or at least one of the parts of it as well. What we are forgetting is that no matter how talented you are, no matter how much you study, if you do not focus your trading then you will be distracted and your results will be subpar.

I personally have done a lot more than my fair share of distracted trading and I can tell you that it definitely brings a subtle problem for my trading. It is not common, but it is there and I make silly mistakes and lose money because of them.

[Silberman]

We all mention hold, hold, hold, but no one mentions for how long, or what determines when to stop holding and convert to cash, or what else. You're mentioning for long-term, how long is that period? We've also seen examples of holders who eventually gave up after Bitcoin's crash in 2017. Thus, I believe that the holding strategy is a bit vague.

Certainly, we'll have to convert to fiat eventually, however, Bitcoin and Ethereum aren't the only reputable coins, such as Binance. Wasn't aware that Litecoin had dropped from top cryptocurrencies, hadn't noticed all this time.

It is also very rare to notice what percentage is considered sufficient income. When exactly to leave the position, to cache out, when to withdraw income? I often hear from more experienced members of the forum that I need to close the position when "the risk-return ratio is satisfactory for me", "when I am satisfied with the percentage". But how exactly can I know what percentage you I to be satisfied with in a particular situation?

When I was just starting to learn the basics of crypto trading, I thought closing the position in 1-2 days with a profit of up to 2% was just fabulous. Then I saw how people did more than 30% in one operation in a few hours. I rethought my approach to "adequate profits" after almost every deal. So far, I have not figured out what I can start from, where is the range in which to close the position, so as, on the one hand, not to feel lost opportunity, and on the other - the unnecessary risks that lead to losses.

When it comes to that  there are only two approaches which you can implement, the first one is the one you are talking about in which before you make a trade you decide beforehand the risk reward ratio you are comfortable taking during that trade, but that option has the disadvantage you could sell too soon and miss on some huge profits, the other option is to let your trades run, basically you do not set a limit to your winnings and you let the market do its thing, which is what those obtaining 30% profits or more are doing.

[lombok]

The market has always followed a bull - bear cycle.
2022 - It might be a bear market.
2023 - It might be the next opportunity to buy the Bitcoin DIP.
2024 - It might be the new BULL MARKET.

Crypto market has a bull and bear cycle, but the cycle may not repeat as the same as previously. So, basically, what the trend to happen in the future cannot be predicted based on the previous bullrun scheme only. We must consider the current factors that may influence crypto trends, for example:
1. Current world economic status
2. Massive adoption of Bitcoin by big parties (BTC as a legal tender in El Salvador, big companies follow BTC investment)
3. Hot issues around the world (wars, Covid pandemic, etc)

These factors may change the scheme of the bull-bear cycle. So, be careful to determine every decision for your crypto investment.

The historical cycle of bull and bear crypto can actually be a basic reference, although the pattern is different from the previous cycle. I think the OP wants to give direction to be careful in day trading or to carry out active trading activities at this time where the market is uncertain, which has the potential to lose, and directs to make purchases carefully and wait for the right moment to buy and sell in order to make a profit maximum.

Your opinion is also really useful where we also have to be ready to face the market which tends to continue to change its pattern depending on various other important factors that we don't necessarily know in the future. If we continue to look for information and combine it, I believe we will get benefits that will be useful in making crypto investments in the long term.

[TheUltraElite]

Mostly those people who want to earn quick profit who doesn't have any patience, Also we should use our money that we can afford to lose to prevent any stress and panic happening when the market didn't go like what we want. Dont ever use your hot wallet for an investment when you have any emergency you dont need to cash out your trading asset and you can keep it for the long term.

Hot wallet cold wallet concept is often not taken seriously by many investors, this is a good thing that you use this terminology means you know how to handle your money.

Besides patience should be maintained by every investor otherwise buying and selling will never happen at proper prices. People don't get that market will always bounce back no matter what happens.

There will be newbies who complain of prices to be too high and fomoed people saying prices are too low. It is a matter of perspective. Keep yours clear and you will profit and the easy way to do that is to get in at a low price and exit at a high price.

[sarmrakib]

There is nothing sure on the crypto market .Look you are also saying that it might be the bear market on this year 2022 .I just don't wanna ignore you it could be the bear market .I don't loose my hope on any situation even the market is on more deep .However its a long time you are asking for waiting but i think it will be more better to find the entry point if we have .There are many strong crypto project are on the market and now we have web3,metaverse and many more .So that we need to research more and make an entry on good point except put our capital on idle.I think it is good to avoid day trading but we can really invest on good project for long term and i hope we can really get a good return .

[uneng]

There is nothing sure on the crypto market .Look you are also saying that it might be the bear market on this year 2022 .I just don't wanna ignore you it could be the bear market .I don't loose my hope on any situation even the market is on more deep .However its a long time you are asking for waiting but i think it will be more better to find the entry point if we have .There are many strong crypto project are on the market and now we have web3,metaverse and many more .So that we need to research more and make an entry on good point except put our capital on idle.I think it is good to avoid day trading but we can really invest on good project for long term and i hope we can really get a good return .

I somehow agree with you. The best entry point is right now. It's too risky to wait for a possible dip in 2023 to start investing. Many people are always looking for the perfect bottom to finally purchase their first amount of bitcoin, but they are never able to do this, because bitcoin is never cheap enough for them and when they least expect, bitcoin enters a bull market again, so it's too late to invest.

Anyway, every investors should be prepared to start seeing profit in few years in worse case.

[South Park]

Simply stop day-trading, or any more active form of trading. Preserve your capital and wait for the market to be in the same situation like 2020 again, when investors were excited to throw their money in crypto. The market narrative has changed, people are not as excited. The market has always followed a bull - bear cycle. Save your money, and wait for the next opportunity.

2022 - It might be a bear market.
2023 - It might be the next opportunity to buy the Bitcoin DIP.
2024 - It might be the new BULL MARKET.

This is going to be difficult for them, even if people dream of making money while doing nothing, the truth is that very few people can do something like that, people have the need to do something in order to get success, and it is because of this why holding bitcoin is not as popular as it could be despite the overwhelming evidence about being the best and safest strategy that you can use to earn money, so with that in mind even if I think your advice is correct very few people are going to follow it.

[carlfebz2]

Simply stop day-trading, or any more active form of trading. Preserve your capital and wait for the market to be in the same situation like 2020 again, when investors were excited to throw their money in crypto. The market narrative has changed, people are not as excited. The market has always followed a bull - bear cycle. Save your money, and wait for the next opportunity.

2022 - It might be a bear market.
2023 - It might be the next opportunity to buy the Bitcoin DIP.
2024 - It might be the new BULL MARKET.

This is going to be difficult for them, even if people dream of making money while doing nothing, the truth is that very few people can do something like that, people have the need to do something in order to get success, and it is because of this why holding bitcoin is not as popular as it could be despite the overwhelming evidence about being the best and safest strategy that you can use to earn money, so with that in mind even if I think your advice is correct very few people are going to follow it.

Simply they do really need real experience for them to learn and not really just making out some actions without any basis or analysis or they do live into their expectations which is to make easy money but we know

that this isnt how the market works which means they do need to have some experience first and made out some learnings out of it and do have some good grasps before anything else.
Dont rush up on making or thinking about profits or money because this would really be just be making out those kind of desperation moves.

[lixer]

The best entry point is right now. It's too risky to wait for a possible dip in 2023 to start investing. Many people are always looking for the perfect bottom to finally purchase their first amount of bitcoin, but they are never able to do this, because bitcoin is never cheap enough for them and when they least expect, bitcoin enters a bull market again, so it's too late to invest.

Anyway, every investors should be prepared to start seeing profit in few years in worse case.

Unfortunately people think that patience in the market is only for selling and not for buying. If you do not wait, there is a good chance you could miss an opportunity that could be better.

I disagree that you should go all-in right now or later, but you should never invest just one moment. If you think right now is good and future may not be great, invest with some portion of your money and not all of it. Then whatever you have left, and whatever you can save later on, you could just keep on saving that and invest it at a later date, and a later date. That way you keep investing at each price and you would be able to get a profit easier.