An advice for newbies and plebs

[Joyawan13]

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.

Seeing the state of price movements in the market is indeed very risky for a new sword, but for me for beginners who want to learn to be able to do day trading for me it is not a problem, but new traders do not use large capital, enough with small capital first, with the situation of the movement market prices like this, of course, a beginner will find out more quickly how the market price actually moves when it is up and suddenly it will fall quickly and can also go back up quickly, and can also drop the price far below the price they bought it for, with that maybe they will be able to think that market price movements will not always be able to follow what they want.

[darewaller]

I don’t think anyone got rich buying Bitcoin last cycle. Let’s say they bought at $19.5K because they were anticipating a break out from the old $20K ATH. Unless they sold at 3x where they would of made 200% it’s not going to make anyone a millionaire.

There were speculations about Bitcoin reaching $100k last year but that didn't happen and now we are back to $40k. We went as high as $70k I believe and imagine people who bought around $20k and then managed to sell for 60-70k that's an easy 3-4x in such a diluted market.

Last cycle was all about the Defi, airdrops, NFTs, Meta, etc. Those were the real money makers. There were some many airdrops, many in the 4-5 figures that they were pretty much giving money away. Bitcoin never gave that. The time when Bitcoin made millionaires was during 2016-2017 before it broke $1K ATH.

I feel like the next cycle will be all about NFTs because there are more and more celebs joining this space and there is a huge amount of potential and money in this market. Then there is also metaverse.

[StarKay]

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.

Day-trading requires techniques and experience for anyone to be successful and there are people that actually do lose money day-trading even during the bull season. So even if your other predictions do happen it doesn't stop anyone with the required experience and skills to engage in day-trading.

[blockman]

Day-trading requires techniques and experience for anyone to be successful and there are people that actually do lose money day-trading even during the bull season.

There's actually more that's losing than winning in day trading. The wins that they have are being shared while the losses, they're kept but they're doing a great job if they're now making their losses into wins.

So even if your other predictions do happen it doesn't stop anyone with the required experience and skills to engage in day-trading.

It's good if your predictions are doing well and being hit, that's just a sign that you've got to do better and you need to be consistent if you're fine as you day trade.

[feelideb]

Day trading is the fastest way to lose money for newcomers and pleb alike, there are many odd out there that might not work in your favour. The strength of character like patience , deligence and been proactive will come in handy than throwing money around iin the hope that you speculation will work! Great advice from the op!

[Desscount]

Day trading is the fastest way to lose money for newcomers and pleb alike, there are many odd out there that might not work in your favour. The strength of character like patience , deligence and been proactive will come in handy than throwing money around iin the hope that you speculation will work! Great advice from the op!

I think day trading is not a suitable place for newbie traders because it is too risky,
it will be very easy to lose money if we don't have any experience,
Trading is very complex and we need to prepare everything before starting to trade

[taufik123]

-snip-
Question and challenge for each of us is: whether we are able to accept Bitcoin; actually step in and invest in Bitcoin; able to have diamond hands and enough patience, determination to hold it for several years. I present it in ordinal steps which are important to decide who we are in Bitcoin market and whether we are able to earn profit in this market, with Bitcoin or not.

and the answer I will give is that I or most people still can't fully accept bitcoin. Bitcoin is only a speculative digital asset and only holds or buys when the price is cheap in our opinion and sells it if it makes a profit.

For the challenge of being someone who has diamond hands and is full of patience for years, it seems that it does require a strong mentality and with capital that really won't be used for anything other than Bitcoin investment. It's hard to hold onto years and pass some ATH.

I am familiar with Bitcoin since the price of bitcoin is still under $3000 and I once owned around 10BTC or maybe more and sold it around $4k-$5k.
If hold up until now and have a Diamond hand of course there will be many advantages in my hands. But being a diamond hand is very difficult.

[Emitdama]

and the answer I will give is that I or most people still can't fully accept bitcoin. Bitcoin is only a speculative digital asset and only holds or buys when the price is cheap in our opinion and sells it if it makes a profit.

For the challenge of being someone who has diamond hands and is full of patience for years, it seems that it does require a strong mentality and with capital that really won't be used for anything other than Bitcoin investment. It's hard to hold onto years and pass some ATH.

I am familiar with Bitcoin since the price of bitcoin is still under $3000 and I once owned around 10BTC or maybe more and sold it around $4k-$5k.
If hold up until now and have a Diamond hand of course there will be many advantages in my hands. But being a diamond hand is very difficult.

The capital part is one of the hardest parts when you are not a rich person. I believe that I have "diamond hands", which is basically the fact that I do not ever feel the need to sell my coins, not when they are down, not when they are up. I didn't sell when I made 10x profit, I didn't sell when I lost 50% of that, and I am not selling now and I never felt the need to.

However, previously I had situations where I needed to sell it, for some personally reasons. The fact is that I may save money every month, I may not need that money, I can feel like that money is money I can afford to lose and move on, then life happens and a sudden very big expense comes along, and you spend it all at once. That is why going from pleb to rich is so hard.

[Xampeuu]

and the answer I will give is that I or most people still can't fully accept bitcoin. Bitcoin is only a speculative digital asset and only holds or buys when the price is cheap in our opinion and sells it if it makes a profit.

For the challenge of being someone who has diamond hands and is full of patience for years, it seems that it does require a strong mentality and with capital that really won't be used for anything other than Bitcoin investment. It's hard to hold onto years and pass some ATH.

I am familiar with Bitcoin since the price of bitcoin is still under $3000 and I once owned around 10BTC or maybe more and sold it around $4k-$5k.
If hold up until now and have a Diamond hand of course there will be many advantages in my hands. But being a diamond hand is very difficult.

The capital part is one of the hardest parts when you are not a rich person. I believe that I have "diamond hands", which is basically the fact that I do not ever feel the need to sell my coins, not when they are down, not when they are up. I didn't sell when I made 10x profit, I didn't sell when I lost 50% of that, and I am not selling now and I never felt the need to.

However, previously I had situations where I needed to sell it, for some personally reasons. The fact is that I may save money every month, I may not need that money, I can feel like that money is money I can afford to lose and move on, then life happens and a sudden very big expense comes along, and you spend it all at once. That is why going from pleb to rich is so hard.

if we know in the future, maybe now we have gotten a much bigger profit. But mentally who doesn't waver at the big profit at that time, and maybe we rarely find that profit in other investments such as stocks and forex. so for me the most important thing is that we have set targets and have been met, rather than we are losing money as experienced by many people who experience panic selling. maybe selling some and holding back some will gain our mental strength

[pragna]

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.

I think A trader can not wait long time here you mentioned. I am agree to short time trade for some selected tokens and some long time trade in low price for better future days. On the other hand profit and lose is part by part in trade market so i can not sit down for prediction where everyone will move so that i have to take risk, yes i have to take this with study.

[Crypto Library]

You are right Given the current state of the market, it is unlikely that the market will hit a new bull market again before 2024. So your advice is very important for newcomers. Even so, if anyone wants to do short-term trading without holding back, they can do so, this is my personal opinion.

[lixer]

The capital part is one of the hardest parts when you are not a rich person. I believe that I have "diamond hands", which is basically the fact that I do not ever feel the need to sell my coins, not when they are down, not when they are up. I didn't sell when I made 10x profit, I didn't sell when I lost 50% of that, and I am not selling now and I never felt the need to.

However, previously I had situations where I needed to sell it, for some personally reasons. The fact is that I may save money every month, I may not need that money, I can feel like that money is money I can afford to lose and move on, then life happens and a sudden very big expense comes along, and you spend it all at once. That is why going from pleb to rich is so hard.

It is alright if you have to pay for stuff in your life with the profits of your crypto profits. However, if you have to do that when it is down, that is the bad part and it would create some type of problem. If you put in 1k, and have 10k, and you have to take that out to pay something that means you wouldn't normally be able to pay it like that, so easily, but you managed to do that and earned something. It is not really a bad thing because it did helped you get better in life.

I paid my debts with it as well and I see that as an absolute win, now I have one debt left, which is about 100 dollars per month for the next 4 months, and I will pay that with crypto profits as well hopefully (if I profit like that). Do not consider that as a bad thing, it means crypto made your life better.

[andriarto]

all full of possibilities, no one knows for sure, even though it's people who have been in the crypto world for a long time. are we going to follow other people's directions? I think it's good to follow personal analysis to be able to do it according to the analysis that has been determined by ourselves through research from our various points of view. that way if it's wrong then this is a learning process, and we don't feel cheated

[kesmex]

all full of possibilities, no one knows for sure, even though it's people who have been in the crypto world for a long time. are we going to follow other people's directions? I think it's good to follow personal analysis to be able to do it according to the analysis that has been determined by ourselves through research from our various points of view. that way if it's wrong then this is a learning process, and we don't feel cheated

I agree that it is better that way because by doing our own analysis and research it will make us trained and not constantly rely on other people,
doing analysis and research is a process and when it works I think it makes us satisfied

[Wind_FURY]

all full of possibilities, no one knows for sure, even though it's people who have been in the crypto world for a long time. are we going to follow other people's directions? I think it's good to follow personal analysis to be able to do it according to the analysis that has been determined by ourselves through research from our various points of view. that way if it's wrong then this is a learning process, and we don't feel cheated

You're right. I was merely sharing my own experience, and how it might help you in buying the DIP, and HODL. But I'm not perfect, and I might be wrong about 2023. It was a simple analysis based on Bitcoin's bull/bear cycles. It would be Bitcoin's first time to break its own cycle if 2023 doesn't show a golden DIP buying opportunity like 2019.

[AnonBitCoiner]

Market not always remain bullish nor bear That why you just buy when it’s on sale and don’t sell until you feel you’ve made a quality profit. You have to be willing to accept that this could take months or even years. Always try to take entry when market down and don't buy all in one Entry. Buying in parts is best strategy. Booking profit is necessary. Don't be greedy.

[shawon01]

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.

Cryptocurrency is important to know that they have to enter the market from here and also stay away from something that is important here.  We are not the only market. There are many more markets. We can go here. It is important to see signs of improvement.

[Kopetunto]

Market not always remain bullish nor bear That why you just buy when it’s on sale and don’t sell until you feel you’ve made a quality profit. You have to be willing to accept that this could take months or even years. Always try to take entry when market down and don't buy all in one Entry. Buying in parts is best strategy. Booking profit is necessary. Don't be greedy.

Not always in crypto we can make a profit quickly and it all depends on market conditions,
and before buying it's better to do your own research first at least it will help in making a decision,
for now many people expect the market to be bullish soon and I don't know if it will happen in the near future or not

[Pejoh Asu]

Everyone must have experienced the newbies period, and at the beginning I was trading in crypto when the newbie was losing a lot of money, this is because I was just a trial of some suggestions that I found on the blogs or social media they wrote, the most important thing in trading is to focus and determine goal, if the profit has been achieved then you should immediately take action.

[peter0425]

Everyone must have experienced the newbies period, and at the beginning I was trading in crypto when the newbie was losing a lot of money, this is because I was just a trial of some suggestions that I found on the blogs or social media they wrote, the most important thing in trading is to focus and determine goal, if the profit has been achieved then you should immediately take action.

we are all newbies , even until now we can consider our self as newbie because no one here are perfect, I mean we may learn many things but this market is volatile that cannot be predicted , meaning there is still chances that we choose the wrong one and lose our funds just like that.

Market not always remain bullish nor bear That why you just buy when it’s on sale and don’t sell until you feel you’ve made a quality profit. You have to be willing to accept that this could take months or even years. Always try to take entry when market down and don't buy all in one Entry. Buying in parts is best strategy. Booking profit is necessary. Don't be greedy.

That's what we called willingness to stay Holding either short term or Long term , we must be ready to everything that will come along the way.