Newbie: If trading isn't working for you, buy and hold.

[juhobtc]

For example: those that bought bitcoin at the beginning of this year January 2023 can relate to this, as those that bought around 17k-19k price can sell with profit right now as bitcoin price is currently around 28k within the end of the month of march.

Note: The end point is to making profit, so why not focus on the area  that could easily work out for you irrespective of the time it takes instead of following the crowd to a numerous lose end.

Because if you invest in bitcoin and as you said, whoever bought it at the beginning of this year will have already received a profit, but if I bought 0.1 bitcoin, then I will always have 0.1 bitcoin in my wallet, and trading will give me the opportunity to increase the quantity of my satoshi.

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[livingfree]

Every newbie who gets to know about about bitcoin mostly conceives the idea that you must have to trade or be a good trader for you to make or be able to earn on bitcoin.

I think it's the opposite, those that I've talked to personally were all just newbies and one thing in common that they believe. And that's just to buy bitcoin and they all gonna be rich. That's the contrary of what you've said about someone has to trade and be profitable in trading bitcoin.

I guess most of us has got that story when someone thinks that having bitcoin is already enough and holding it is the best strategy. That isn't wrong and that's actually what most of us are doing, these newbies weren't also wrong but they lack patience and being profitable by just holding and buying it are all correct.

But to understand of by buying and holding, we're not free from the risk.

[zaki12]

Buy and hold does sound like a simple and easy to implement trading strategy. However, in reality, this strategy requires great persistence and patience. A buy and hold strategy requires the trader to buy bitcoins and hold those bitcoins for a long period of time, usually for months or even years. The goal is to avoid short-term market fluctuations and allow the asset to grow over time.

However, this strategy requires persistence as the trader must be able to resist the temptation to sell bitcoins at times when the market experiences short-term fluctuations or significant price drops. And this is where many beginners always lose if they don't resist the temptation.
In conclusion, while the buy and hold strategy sounds easy, it requires persistence, patience and careful research in its execution.

[Merit.s]

Trading is risky,as a newbie, you need to study the market first before jumping into trading. Since you are a beginner,you will not make profit immediately, you have to make losses first. This will enable you learn from your mistake to become a good trader. Trading is not for everyone and if you are the type that is having losses all the time,this means that you need to stop and study more before trying again. There is a say that practice makes one perfect,if you don't get it at all,it is better that you quit trading if not you will end up been broke. Holding for long is the easiest way to make profit from your investment but people are just in a rush to get rich quick.

[fadhilz123]

I won't entirely ask them to stop trading, sometimes having your fingers burnt is also a good way of learning, trading has to do with experience, and you cannot get that experience without getting some losses. The best traders will always advise you to try again and even after blowing up your account.

Trying is important to make it easier to know something because by continuing to try and do it with full confidence within themselves, of course they will gain experience and knowledge in the future. Apart from that, everyone also does not have specific rights to prohibit other people from doing something, including trading, although maybe a newbie is in need of advice on things that are more unique. But banning it is not a better solution because he will not gain more knowledge without trying to implement it.

Not in most cases, cause you might end up having no fingers anymore as they have burnt to ashes before you know it. More so it's better to have a slow but gradual growing figures in your account than having a blown one.  Mind you, you can only try again when you have money in the account and not with a blown up account as trades are not executed on empty account except you wanna go back to demo trading.

Loss is part of the risk and it can also be an experience for newbies who are learning and trying it. Even though it looks like it hurts to have suffered a loss, it can also be a lesson for him when he has more money to try trading when he is better prepared than before. The point is never give up just because you have lost once, but keep trading continuously by applying some of the strategies that have been studied before even though buying and holding them is also not bad for a newbie.

Ask the best traders, it wasn't rosy from the beginning. My point is, normalise the fact that losing in a trade is something you will mostly come across as a beginner, it shouldn't be frowned upon or discouraged entirely. Besides as a beginner, you should know your limits.

Yes, losing in trading is something that many people often encounter, especially Newbies. And to be honest you two have brought a very interesting discussion here so Newbies can also take the gist of what you are saying. Because Newbies also need to know their own abilities apart from the limitations of other things.

[KingsDen]

Note: The end point is to making profit, so why not focus on the area  that could easily work out for you irrespective of the time it takes instead of following the crowd to a numerous lose end.

You can say that the end point of it all is making profit but you have refused to acknowledge the magnitude of the prophet that would be made both in holding and in trading.
Another thing you need to consider is how fast does one need this profit? A day trader may turnout  more than $1000 a day, but for a long time investor to return such amount of money, he needs to be patient for some months or likely years.

Another aspect you need to understand is the aspect of capital. Some people do not have large capitals. So they do day-trading to accumulate their portfolio. So if such capital is invested in long-term holding, it could amount to futility in the end of the whole process because the profits might not worth the wait.

[imamusma]

I tend to recommend buy and hold for anyone expecting returns in the long term. But if they expect short term profits then trading is the solution. The important thing in this situation is, what is the reason they are not getting any returns from trading activity, it should be analyzed so they can recognize the problem instead of changing plans as soon as possible.

I agree that buying and holding is the most effective way for those of you who don't want to linger monitoring and monitoring price movements. It will also prevent them from getting headaches due to price volatility and unrealized profits. But if they still want short term returns I think they should review their trading strategy and find out where they went wrong.

[Dzwaafu11]

The issue with beginners is that they are constantly looking to become bitcoin traders, which I believe isn't the greatest route as holding is the best course for us in bitcoin rather than trading.

The majority of newcomers to bitcoin trading are inspired by seeing friends and family members succeed in the market. And they believe it to be something simple to accomplish;lack knowledge of how it operates, among other things. And for that reason, people lose when they consistently plan to trade bitcoin.

Another consideration is that beginners sometimes trade bitcoin since they lack the funds to purchase and hold it. It is therefore preferable for them to do so in order to earn minor profits that will enable them to continue trading.

[Getmon]

Trading is difficult. Buy and hold is a better option for newcomers to bitcoin investing. However, there are a lot of individuals motivated by greed. They rush into bitcoin for the money. They are tempted by the rapid growth of bitcoin since its creation. They do not want to be late and start their trading with haste without trading education. They are impatient in some cases because, in their minds, they do not have enough capital to just hold bitcoin. Trading is their solution to their desire for rapid wealth accumulation. They would not learn until they run out of their capital. Some individuals do not learn well and will go back for more.

[Smartvirus]

Note: The end point is to making profit, so why not focus on the area  that could easily work out for you irrespective of the time it takes instead of following the crowd to a numerous lose end.

For some people the end is not just making profit but making large profits and holding alone doesn’t seems to quench there thirst for it. From your example someone that has actually bought $1K worth of bitcoin at 17k in January will have gain more than $600 profit now at current price of $28k, which is not a bad profit. But some traders actually gain, some gain at least 10% of that amount every week and that has worked for them.

It's a very hard thing to do, to have a honey pot in sight and somehow, you choose not go deep your finger for a little taste of honey. It's the drive for most all along and it blinds you from the underlying risk. Be rest assured, the bigger the risk, the more the profit and vice versa. Trading is the honey pot in cryptocurrency as in few minutes, you can double your portfolio or even triple it if you know what your doing but, with that amplifying power to your trades comes the loses as well when you make a wrong trade. Bad enough, it's often about those taking wrong trades and making loses.

Hodling definitely is a matter of patience and have a plan about where you could say its okay to take profit or continue to add to your portfolio.

[Rengga Jati]

Note: The end point is to making profit, so why not focus on the area  that could easily work out for you irrespective of the time it takes instead of following the crowd to a numerous lose end.

Basically, being a trader or investor/holder is a choice, it depends on our own condition and capability. Sometimes, someone is having very excellent investment prospects, but is low in trading activities. Basically, trading is something very risky, moreover, for those who don't have good capability to manage themselves for trading, this is risky enough, like gambling if we don't have any understanding.

That is why I agree with you. Just be yourself, not forced to look like other people who are successful in trading. If we are still not able to do trading, at least we can buy Bitcoin or top altcoins for holding, whether for the long term or the short term. So, we can manage the risk wisely and carefully.

[GeorgeJohn]

Actually everyone have different sense of reasoning, what I believe in bitcoin is that you most know the possible implications that leads to the advantages and disadvantages before you can as well conclude on the things that you do in bitcoin, a day trading can not give you profits as expected, therefore I believe that you have to create your means to earn in bitcoin. But many people think that you most trade in bitcoin before you might make profit began to earn in bitcoin, while in my perspective I think that investment such as long term investment should be the major factor while in bitcoin you can make profit.

[Sandra_hakeem]

Ehhh, why should I go trade 'em coins as a newbie?? I'll say, any newbie that hurries to trade coins without following due process is either too greedy and ambitious, or NOT a newbie at all....Cus how the heck Y'all got to Know that 'em coins could be traded, but you don't know that it's even more risky to do so?? You don't know the intricacies of going beyond a starter-point or, running faster than your shadow??
These goes to everyone that's in a haste to trade; it's usually the higher you trade, the higher you lose..the ain't two ways about it. HODLing is safer!!

Sandra 🧑‍🦰

[arimamib]

You are right, However in theory traders trade in two types there are those who play spot and those who trade futures so I can't judge them as beginners here as the skill set traders have in spot trading will be quite different by the time they try futures feature. I see hundreds of dollars subject to liquidation which they are not beginners in this case.

But what you said is quite true if a beginner buys btc on spot trading in price $35k and the btc price drops suddenly they don't need to panic to sell because they can have to hold on until the price actually goes back up past the entry he made.

[Uruhara]

Actually, for a beginner, it's not just being a reliable trader that is difficult to realize. but being a hodler is also very difficult for beginners to realize. because they don't have a strong mentality either as traders or as holder.

The advice I can convey to beginners is if you experience more losses in your trading activities. then all you have to do is learn more before deciding to continue trading. because most of those who fail in trading are not those who are unreliable in technical analysis. but most of those who lose in trading are those who are bad at doing fundamental and sentimental analysis. they are bad at controlling the Greed and fear that always accompanies their trading activities.

so essentially beginners need to learn more. because being a hodler is also not as easy as one might imagine. because to become a hodler we certainly need a belief that the coins we hold will really bring profit if we hold them longer. and to bring up this belief in us then we need to recognize the object in question (bitcoin). learn more about bitcoin until you know and believe that Bitcoin will indeed bring you more profit in the future if you hold it in the longer term.

the point is to enter everything after we know about something. get to know and just enter. that way the beginner's mentality will wake itself up to be stronger because he has done in-depth research that has convinced himself that holding it is better. and of course with money that is also ready if you have to be faced with existing risks.

[Gallar]

In my little observation, I find out it is not that these strategies taught out from these materials and classes are not in context with conventional trading, or that they are not workable or plausible to earning earning on bitcoin but the underlying truth is that trading isn't meant for everyone in the crypto space and everyone must not be a bitcoin trader. whereas some still fight it and they keep losing financially in the fight.

everyone has different experiences and understandings about buying and selling or traders, but in essence it is nothing but making a profit. which makes many beginners experience losses, it is due to lack of knowledge and lack of experience. and if someone who invests in bitcoin can't trade everything, then where should the bitcoin that is bought go. You don't get me wrong, whether you invest in the long or short term, in the end you will end up selling. So if you say people who have bitcoin don't all become traders, in my opinion it's not quite right, because even logically if you invest in bitcoin, everyone automatically becomes a buyer and eventually becomes a trader.

Why bother yourself to be a skillful trader despite how it's not working out for you when you can be a good holder. Yes! you heard me right, a holder. Why not buy and hold patiently wait for a profitable rise in price from the actual price you bought at and sell at a good profit level. This doesn't demand strategic techniques or you to be a guru with years of experiences in trading, all it's required is "buy, hold patiently for price to rise profitably for you while you sell and wait for another opportunity to buy again and hold.

That's basically it, buy, hold, and sell.
but I don't think it's that easy to do, especially for beginners, the mentality hasn't been tested strong, the experience isn't there yet, plus the knowledge is still a little, it will definitely make it difficult for the beginners.

let alone beginners, experienced ones also often lose in mental wars. because seeing the market go down, for some beginners, many are worried, worried and afraid, and in the end many sell at these falling prices, because the fear is caused by the thought of fear that it will go down even more.

plus slanted news and so on, it will definitely be very mentally draining.

[Smack That Ace]

I won't entirely ask them to stop trading, sometimes having your fingers burnt is also a good way of learning, trading has to do with experience, and you cannot get that experience without getting some losses. The best traders will always advise you to try again and even after blowing up your account.

There are lots of gains in trading, you just have to keep on keeping on with the best trading skills you can come up with.
So letting them know that getting losses is not entirely a bad thing, it's actually part of the process of learning
.

Trading or investing all have the same profit goal, but each person will have a different taste and purpose. You can't make a profit in trading, but that doesn't mean others won't profit from it either.

If you fail at trading because you can't afford to make money from it, you're not suitable for it, or you haven't tried your best...you should find another method that works for you. I also don't often trade because I'm not very good, but I also don't object to people trading because there are also many people who trade very well and make a lot of money.

[Dr.Bitcoin_Strange]

Actually, for a beginner, it's not just being a reliable trader that is difficult to realize. but being a hodler is also very difficult for beginners to realize. because they don't have a strong mentality either as traders or as holder.

I agree to this, because some newbies without strong faith in their investments are well undecisive because of price volatility and market manipulation. Holding might be looked at as "what's there; it doesn't take a great deal to hold", but I bet it is. For example, if someone bought Bitcoin at $16,000, but coincidentally after buying within just two days, the price dropped to $8,000, they may feel tempted to cancel out, or if the reverse is the case, after buying at $16,000 and within 48 hours it has already pumped to $28,000 or $40k, I guess they will feel tempted to sell as well. but though, crypto trading is more risky for newbies than holding.

[Uruhara]

Actually, for a beginner, it's not just being a reliable trader that is difficult to realize. but being a hodler is also very difficult for beginners to realize. because they don't have a strong mentality either as traders or as holder.

I agree to this, because some newbies without strong faith in their investments are well undecisive because of price volatility and market manipulation. Holding might be looked at as "what's there; it doesn't take a great deal to hold", but I bet it is. For example, if someone bought Bitcoin at $16,000, but coincidentally after buying within just two days, the price dropped to $8,000, they may feel tempted to cancel out, or if the reverse is the case, after buying at $16,000 and within 48 hours it has already pumped to $28,000 or $40k, I guess they will feel tempted to sell as well. but though, crypto trading is more risky for newbies than holding.

yeah that's right. and the cause of all the actions taken by these beginners is because they do not have mature readiness either in knowledge or mentality. so that every decision taken by them always tends to follow their emotions and not based on in-depth analysis. so that beginners still have to prioritize adding insight and experience. maybe they can try and learn by a small margin. and if they can become consistent enough to make profits on small margins. then they can gradually increase their capital in trade. and actually almost everyone has been in the beginner phase. and those who don't give up and keep learning are the ones who are currently surviving and have a good advantage.

[isaac_clarke22]

~

This is pretty much my experience when it comes to trading and from that experience, I would just conclude that it is perfectly fine to not be able to trade. It is not meant for everybody. It still can be learned like using Bollinger Band and RSI, but the whole experience is going to be horrible.

If you do not have the time to day trade, don't force yourself. You're going to be mentally exhausted af and this is what I exactly experienced.
I believe 1miau has a similar thread like this and it has a pretty nice illustration.
Edit: It's this thread - Trade vs. HODL - avoid traps