Essential one to new traders in Crypto currency

[gunhell16]

One piece of advice I have read and I kept reminding myself about it that new traders should also realize before diving in is that there is a cycle of bull runs and bear markets. When the goal is to avoid loss, it's the investment timing and then waiting for that is to point out for them.

The volatility can be used to advantage but usually, it's BTC that has high volatility even in the bear market.

It's really difficult to jump right into this bitcoin trading without knowing which usually only leads to the loss or loss of capital due to the absence and lack of knowledge here.

Moreover, the volatility of Bitcoin is very high which makes it very difficult to predict what or where its market value will go, whether it will go up or down. So what you are saying is correct.

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[teosanru]

Every day some people get into the crypto currency trading.They come to know about cryptocurrency from their friends or relatives.They start trading with some capital and when the bear market comes,their balance will be reduced some value.After seeing a small loss,they will cash out the money and fly from crypto currency trading.The following steps will help such new people to avoid loss from the crypto currency trading.

1.Crypto currency is not a stock market trading,you need to wait longer period as compared to the stock market.In stock,you can earn 5% in short period,but in crypto it take short or longer based on the market flow.

2.You have to learn trading by using a little amount of dollars in practical experience.You should not consider such money as loss.After you learn trading,you can earn 10-20x of the loss money.

3.Stock market will give you profit lesser as compared to crypto currency.You can earn 10-30x of investments by investing on potential crypto currency.You should ready to hold till the expected profit had gained into your wallet.

4.Holding for longer period with some patience is most essential one in crypto currency trading.Because the market flow is purely based on the demand and investment to the cryptocurrency.It may vary on every quarter of the year,mostly it started to increase after the first quarter.Mostly after the month of April in every year.

5.When the market volatility is high,the market flow will be maximum.You can get profit at any point of the market flow.If you are ready to hold for the longer period,the profit would be maximum then you had expected from your investment.

Main difference i feel from stock market is the volatility as it's crazy high in Cryptos as compared to stocks. Moreover you have sellers freeze and buy freeze there you don't have any such things in Cryptos. The seller freeze make sure that market doesn't gets an infinite dump in a day just because of a bad news or even sometimes fake news. Also i think having expecting 10-20x returns from Cryptos is also very unrealistic. I think one should have a target of 10-20% increase per month, nothing more than that. 10-20x is a thing that happens once in blue moon.

[Oilacris]

2.You have to learn trading by using a little amount of dollars in practical experience.You should not consider such money as loss.After you learn trading,you can earn 10-20x of the loss money.

This is where you should really be minding or needs to be followed initially when you are really that a complete noob.Never ever make yourself put in a hurry on making profits in short duration
because this would really be creating that kind of desperation which is something that you should really be needing to avoid because instead on making money you would
eventually lost money instead because of desperation which would really be derailing you out of your strategies.

[Rigon]

Op here you have created many nice knowledgeable posts for newbies to trading. Actually new traders enter first with ideas from different people. They consider themselves to be very experienced when they come to the trading platform. They participate in trading without analyzing the market. As a result, when the market goes down, they fall into financial losses. But if the newbies trade according to your post then surely they will learn a lot and the chance of loss will be much less.

From my side I want to tell the newbies that you don't get greedy in trading platform and don't trade with passion. Because most people who lose money lose because of these two mistakes. Proof of this myself two days ago I participated in the futures trading platform but did not sell it even though I had a profit in the first instance. But currently I am in big loss in that trading. So I want to tell you that you should never trade with greed.

[Viscore]

You are right on some things maybe even more if you want. But all of that is based on the ideal of a suitable trader in crypto trading. Because some people who are carried away by ambition actually fall down with considerable losses. The reason is when you are able to control your mind in crypto trading, all other aspects will be easy to control too. Beginner traders come with the aim of getting instant profits because they are matched with experienced influencers, as a result many conclude negatively that crypto trading is like gambling.

But the problem with beginner traders are they are more on emotions than trusting their own minds. That’s why it’s easy for them to fall and believe into crypto influencers and literally follow their advices, rather than doing their hard work in researching so that they can come up with good personal analysis. And with greed motivating them, the reason why they instant trade and instantly lose their funds too.

[yhiaali3]

Good tips, but they are all about patience in trading. Yes, patience is one of the basics of trading, and whoever does not have patience is better not to enter the field of trading.

But trading is not only about patience, there are many basic skills that a trader must learn in order to be able to succeed in trading, in addition to the basic skills there are many personal qualities that he must possess, such as controlling emotions, not rushing, persistence, and not despairing when losing.

One of the most important skills is choosing the best times to enter and exit trades, there are a lot of other things a trader has to learn all of these things step by step.

[jrrsparkles]

This just applies to bitcoin not necessarily for every cryptocurrencies cause that is where most newbies make mistakes, they think Bitcoin is way too high so they are looking for next bitcoin which may become high priced asset like bitcoin oneday and dump their savings or even everything but investment won't work in that way.

To be successful investor you need to diversify and to be a successful trader you need experience which will comes along with lots of bad times though.

[Sanitough]

You are right that a person can only learn when he become engaged in practical use because just knowledge cannot teach you everything sometimes practice is necessary. Sometimes individuals of crypto does not succeed and are unable to get what he wants because he doesn't have any experience but he just read about it and hear about it through which one cannot get complete knowledge. Success will be only attain when you also engage in actual field and work for it by using your money.

Most particularly for trading where an individual needs practical training more than knowledge so that he can be a good and profitable trader later on. However when it comes to losses, there is no exception to that, whether you’re a pro or newbie in trading. The only difference is that pros in trading have gained more and better experiences than newbies, that’s they have the ability to reduce the risk level of losing from trading.

[AicecreaME]

2.You have to learn trading by using a little amount of dollars in practical experience.You should not consider such money as loss.After you learn trading,you can earn 10-20x of the loss money.

This is easier said than done.

Not all of the newbie traders could handle the stress they will get in the process, the frustration because of expectations that didn't meet, so automatically they will conclude that trading is not for them, which is not a bad idea since all they wanted is to ensure their funds. There's a lot of opportunities for them, not just trading so you can't really blame them if they chicken out of trading real quick after they lost some of their fund.

[imamusma]

This just applies to bitcoin not necessarily for every cryptocurrencies cause that is where most newbies make mistakes, they think Bitcoin is way too high so they are looking for next bitcoin which may become high priced asset like bitcoin oneday and dump their savings or even everything but investment won't work in that way.

The bitcoin price is very unstable where prices can change quickly at any time. A high ROI can be expected over short period of time (e.g. a few months) depending on where the bitcoin phase is at the moment. It is always possible to find price recovery after the bitcoin price dump to low like it did in 2022 which was further followed by recovery during January 2023 to now.

You should sell your altcoin as soon as possible as long as you get returns, altcoin are fundamentally very different from bitcoin so you should handle them differently too. If you can expect bitcoin to bring you long-term returns, then it probably isn't the same for all altcoin. Buy bitcoin and make it your holding asset, but some altcoin also have long-term potential.

[jrrsparkles]

This just applies to bitcoin not necessarily for every cryptocurrencies cause that is where most newbies make mistakes, they think Bitcoin is way too high so they are looking for next bitcoin which may become high priced asset like bitcoin oneday and dump their savings or even everything but investment won't work in that way.

The bitcoin price is very unstable where prices can change quickly at any time. A high ROI can be expected over short period of time (e.g. a few months) depending on where the bitcoin phase is at the moment. It is always possible to find price recovery after the bitcoin price dump to low like it did in 2022 which was further followed by recovery during January 2023 to now.

You should sell your altcoin as soon as possible as long as you get returns, altcoin are fundamentally very different from bitcoin so you should handle them differently too. If you can expect bitcoin to bring you long-term returns, then it probably isn't the same for all altcoin. Buy bitcoin and make it your holding asset, but some altcoin also have long-term potential.

Yeah, there are very few genuinely different cryptocurrencies created apart from bitcoin for different purpose but some of then were forced to be dumped so that is the risk of investing even in a good altcoin but bitcoin crossed the stage of controlling anymore which can be manipulated but its the only cryptocurrency can't be controlled even though if a government say a complete ban on bitcoin still its hard to stop the bitcoins circulation.

[Nrcewker]

Don’t get too strict with these rules if you are a newbie. Just trade with cool mind and with proper knowledge. While choosing a coin, do a good research on the coin, it’s background and popularity plays an important role also. Next observe and study the market, at what time of day the price goes or on what special days the market falls down. At last trade with the amount that you can afford to lose. Don’t just put all your savings in trading and make your life in debt. Most importantly don’t become greedy and keep on cashing out little yet steady profits.

[fullhdpixel]

Good tips, but they are all about patience in trading. Yes, patience is one of the basics of trading, and whoever does not have patience is better not to enter the field of trading.

But trading is not only about patience, there are many basic skills that a trader must learn in order to be able to succeed in trading, in addition to the basic skills there are many personal qualities that he must possess, such as controlling emotions, not rushing, persistence, and not despairing when losing.

One of the most important skills is choosing the best times to enter and exit trades, there are a lot of other things a trader has to learn all of these things step by step.

This sounds interesting. I thought patience is mostly needed in investing because the concept of it is to hodl till the bull run and we know that bull run doesn't come often. Trading is hard to learn so patience is needed at the beginning but once we are ready, that is the time for us to trade non-stop and earn significant profits.

There are newbie traders who lacks in patience and don't finish their training properly. They are the ones that you are referring to, that must not be here in trading. They better do gambling in casinos because it doesn't have a learning curve. There is more in trading but those things can can be achieve as long as we have a patience.

[Faisal2202]

Every day some people get into the crypto currency trading.They come to know about cryptocurrency from their friends or relatives.They start trading with some capital and when the bear market comes,their balance will be reduced some value.After seeing a small loss,they will cash out the money and fly from crypto currency trading

Great points dear OP, but I think these points only circulate around a few things like "holding for a longer period and stock is better than crypto for profits". But what I think is, trading in crypto is much easier than in stock because I had still not learned a thing about stock trading but in cryptocurrency trading, things are theoretically much simpler. Most of the newbies to whom you aforementioned are also not familiar with stock trading, (like the majority of them) because if they do familiar with it then they are not the ones coming to crypto trading by hearing it from friends and relatives.

So, for newbies, I prefer you guys should follow some basic tips,

• 1. Buy with only that money that you afford to lose
• 2. Do not start with real money, start with demo accounts to test your mindset and strategies
• 3. Always follow your plan which you made at the start before entering the market because once you see the profits or loss you will fall prey to market sentiments which you should avoid.
• 4. Understand, charts, news, and how many factors try to manipulate you frequently to make and lose profits,
• 5. Do not waste your time and money on learning complex algorithms and tools because you are not a pro so you don't need them.
• 6. Do not fool yourself by saying, by joining a VIP group where trading signals are shared, you will get a great experience from it and learn from it. No, you will not learn from it instead you will become dependent on it and your mind will become stagnant not progressive.

[EdenHazard]

One piece of advice I have read and I kept reminding myself about it that new traders should also realize before diving in is that there is a cycle of bull runs and bear markets. When the goal is to avoid loss, it's the investment timing and then waiting for that is to point out for them.

The volatility can be used to advantage but usually, it's BTC that has high volatility even in the bear market.

10% is about buying
10% is about selling
And the rest of 80% is about waiting / timing , that's the formula.

You could always have your own candle lines in predicting the bull cycles and the bear one , but always remember that patient to wait is they key to have your money in crypto gained in value overtime.

[Russlenat]

2.You have to learn trading by using a little amount of dollars in practical experience.You should not consider such money as loss.After you learn trading,you can earn 10-20x of the loss money.

This is where you should really be minding or needs to be followed initially when you are really that a complete noob.Never ever make yourself put in a hurry on making profits in short duration
because this would really be creating that kind of desperation which is something that you should really be needing to avoid because instead on making money you would
eventually lost money instead because of desperation which would really be derailing you out of your strategies.

Success is achieved not by taking shortcuts, but by following a step by step process. If you are still new to trading, then never act like you’re already a pro in it. Set your limits and only trade with a minimal amount, so that if you lose you will have no rooms for regretting. And when you’re already making consistent profits through trading, then you can set an increase on your capital so you can also gain bigger profits when your trade succeeds.

[harizen]

The following steps will help such new people to avoid loss from the crypto currency trading.

Rather than saying "to avoid loss", much better if we say "to minimize loss".

Even those considered professional and long-term traders can't avoid losing at trades, regardless of the market trend. To prevent or avoid losing money in trading is something impossible to happen knowing how volatile and unpredictable the crypto market is. We can't avoid it but somehow we can minimize it.
 
For me, it's better for new players to experience struggles and challenges right away during the start of their trading journey in crypto for them to realize what's the best thing to do in the future. Remember those users who started their journey at bull run? I believed almost the entire of them thinks that earning money in crypto is easy and they are all smart during the bull run. But when the bear trend came, I also believed that almost the entire of them vanished.

Building experience is the key. These new players will soon become experienced ones if they will be serious to build and progress their crypto-trading journey.

[Quickex Exchange]

You've provided some valuable insights for newcomers to cryptocurrency trading, emphasizing the importance of patience, learning, and understanding market dynamics. It's crucial for new traders to recognize that cryptocurrency trading differs from traditional stock trading in terms of volatility and potential returns. Developing trading skills with small amounts of money, holding for longer periods, and being aware of market fluctuations will help them navigate the crypto market more effectively.

[cydrix]

In some cases, you could argue that you are even more correct. But all of that is predicated on the ideal trader for cryptocurrency trading. Because some individuals who become overly ambitious do in fact collapse with significant losses. The reason is that once you master mind control in cryptocurrency trading, all other parts would be simple to master as well. Because novice traders are paired with seasoned influencers with the intention of making quick money, many people draw the incorrect conclusion that cryptocurrency trading is similar to gambling.

[Mauser]

1.Crypto currency is not a stock market trading,you need to wait longer period as compared to the stock market.In stock,you can earn 5% in short period,but in crypto it take short or longer based on the market flow.

While it's true that there are some differences in stock trading cs crypto currencies reading, o don't think that volatility is so two different between the two. When it comes to the stock market there are medium to small size stocks that have a high volatility and easily move 5% in a few days. This either die to the high risk involved in the company, or the small number of shares publicly available to trade. In the blue chip market  however there are some large companies which have a very small risk profile and won't be moving more than 1-2% in a week or two. In the crypto market we have the exact same, there are some high risk alt coins which can easily move 5% and then there are more popular coins which don't move so much. Both in the stock and in the crypto market the general market risk is the main driver of price changes and needs to be monitored. That's why I think that a successful stock trader will do good in the crypto world and vice versa.