A nob in trading needs help

[Hamza2424]

A noob no buddy you should say it a leaner needs help and this is a good idea to start a topic to get some suggestions on finding out some good references to generate valuable knowledge throughout. I did visit the thread with the pure intention of helping but you've got many ideas already still, if there is anything left or with basics i can help you as i have started a series a few weeks back its still ongoing but i have paused it for now to add some recent topics related to the trading guide. You can check any of them below,

For any other type of real-time help, I am available here haha not only me whole community will warmly welcome you.

1. New to Trading - Tips and Suggestions (V1) Getting Started Full Guide
2. CEXs vs DEXs & Spot vs Future - Tips and Suggestions (V2)
3. Analysis & its Types - Importance of Analysis in Trading (V3)
4. Tips for Descriptive and Sentimental Analysis (V4)

[Baoo]

To begin with, you need to acquire a knowledge of crypto trading until you become competent to begin. Don’t forget that education comes always first without it you will not be able to have a successful career in trading. In fact, there is actually plenty of ways to learn the basics of this field, you can start with reading some effective books , then you should learn the technical analyses. I highly encourage you to watch some tuto ( beginners guide ) on Youtube but be aware of some crypto influencers who post fake information and analyses for a purpose. In addition to that, you should prepare different strategies and plan and it is preferable and safe to begin with a limited capital to keep away from risks. Best of luck.

[bitgolden]

What's more, those who have no experience in trading or investing in crypto need to learn more about it,
trading bots are also not always profitable and I think many avoid using them,
Of course, everyone has their own decision.

Trading bots could be useful if you know how to trade yourself, but if you have no idea how to trade yourself, then bots can't help you with it. Think about it this way, I mean we are talking about a situation where it is going to be just a bot, that does what you tell it to do, and you have no idea how to trade and you are going to end up telling it to do the right thing somehow? We all know that's not going to be the case, we all know that it is going to end up being a lot less profitable than that.

So, the best thing to do in this case is to make sure that we are not dealing with anything that would be similar like that, just focus on learning how to trade yourself. After you make profits by yourself, you could start considering getting a bot as well.

[kojektea]

if you want to keep earning in crypto even if you don't trade I think you should try staking it's better because staking when the market is negative is the best way to keep earning instead of having to invest risky because the market is so volatile. i have tried it, for safe staking you can go to binance, it cost big for bigger profit but its ok as long as we have it.

[Tony116]

I would advise you to spend more time on a demo account. As for me, it is this method that allows the trader to try his hand in conditions close to real. It is due to this that you can get a good result.

Beginners can use the demo account to familiarize themselves with all the basics of trading and the market. But I advise you not to overdo it, I mean, once you know the basics, then you should use yourself a real account with a minimum capital to start. If you use a demo account for a long time, you will not learn anything because when you know it is an account without real money, it will easily create bad habits for you. Using a demo account, we will not be afraid of losing money, but with a real account it is the opposite, so newbies using a demo account a lot will be counterproductive.

[Silberman]

I would advise you to spend more time on a demo account. As for me, it is this method that allows the trader to try his hand in conditions close to real. It is due to this that you can get a good result.

Beginners can use the demo account to familiarize themselves with all the basics of trading and the market. But I advise you not to overdo it, I mean, once you know the basics, then you should use yourself a real account with a minimum capital to start. If you use a demo account for a long time, you will not learn anything because when you know it is an account without real money, it will easily create bad habits for you. Using a demo account, we will not be afraid of losing money, but with a real account it is the opposite, so newbies using a demo account a lot will be counterproductive.

This is correct, a demo account has its advantages as it allows yourself to familiarize yourself with the platform and avoid making dumb mistakes when it counts, but at the same time the difference between a demo account and a real account is massive due to the use of our own money, obtaining a great performance using a demo account is very easy as you are not worried at all about losing your money, but once you use your own money then the fear is real, especially when there is a massive drop on the market, and the only way to gain the necessary experience about how to deal with those movements is by trading with real money under those circumstances.

[Rengga Jati]

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

Always listen and see from two sides, not only its strength or profits but also its risks or possible losses. Because, however, one thing you must understand and instill in yourself, trading or investing in Bitcoin is a high risk, especially only limited to speculation and with abilities that are still early. Don't think that Bitcoin will always make you rich and make lots of money, but vice versa.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

As I said above, trading can be a means of gaining profit, but trading can be also a means of losing money very easily.Moreover if this is based on speculation. Trading as a profesional also still requires risk, high risk and not all the time the profesional tarders will gain the profits.Moroever someone who only did it based on specualtion. This will be higher risks.

[Fivestar4everMVP]

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

Well, trading cryptocurrencies is a passive way of making and living a financial dependence free live, but it's a skill that does not come cheap, else, each and every one of us would have become traders..

Please note that there are traders and there are trading gamblers, trading without knowledge of what exactly you are doing or doing the right thing the wrong way is equal to gambling, and in such a situation, chances of loosing money is pretty high.

It a very possible to make a good living off trading cryptocurrencies, even as a family man or woman, trading is a great profession anyone with its knowledge should be proud of him or herself, but like I said earlier, the knowledge, skill needed to become a pro trader doesn't come cheap, you have to subject yourself to learning, practicing, unlearning and learning again trials and error, learning from mistakes of yours and other, until you become a really good trader.

[jostorres]

if you want to keep earning in crypto even if you don't trade I think you should try staking it's better because staking when the market is negative is the best way to keep earning instead of having to invest risky because the market is so volatile. i have tried it, for safe staking you can go to binance, it cost big for bigger profit but its ok as long as we have it.

Staking immediately? But, why not investing first? The era of staking is I think have ended already because they are rarely being talked about anymore and if ever there are comments that I read, most of it are negative. The market is so volatile, but that is not a bad thing. That condition is actually great if you are in to trading because you can buy low and sell quickly.

This means that profits will flow easily. We are often advice to not store our funds inside a centralized exchange and you said staking on binance cost big? That isn't worth the risk then. I better hodl my crypto on my own wallet where I own my keys. I can still earn a profit with it but with lesser risk.

[Dr.Bitcoin_Strange]

if you want to keep earning in crypto even if you don't trade I think you should try staking it's better because staking when the market is negative is the best way to keep earning instead of having to invest risky because the market is so volatile. i have tried it, for safe staking you can go to binance, it cost big for bigger profit but its ok as long as we have it.

Instead of having to face the risk due to the market situation, you can do staking just as @kojektea have advised, but to be honest with you, staking doesn't really generate a big ROI, and the risk with staking is that since you are going to be staking with a centralized exchange, your coin is not completely under your control, and should any bad incident happen to the exchange, you face the risk of losing your coins.

[rozak]

if you want to keep earning in crypto even if you don't trade I think you should try staking it's better because staking when the market is negative is the best way to keep earning instead of having to invest risky because the market is so volatile. i have tried it, for safe staking you can go to binance, it cost big for bigger profit but its ok as long as we have it.

Instead of having to face the risk due to the market situation, you can do staking just as @kojektea have advised, but to be honest with you, staking doesn't really generate a big ROI, and the risk with staking is that since you are going to be staking with a centralized exchange, your coin is not completely under your control, and should any bad incident happen to the exchange, you face the risk of losing your coins.

rather than staking, I would prefer to stay silent and wait for the market situation to improve first. As you said, staking doesn't give a decent percentage. moreover, in the process, some lock assets in planning for a certain period. it makes us unable to use our assets to trade if the market situation then quickly improves.

[koleusdat]

You can see how many successful people are engaged in crypto passively in order to have a safety cushion. In unstable times, it is most convenient to get income quickly when the market outflows.

[Viscore]

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

You can have a million dollars and lost it in some hours to trading. You have to be disciplined and do not let emotion control you. Learn the basics and do not use more than the amount of money that you can afford to lose to trade. Use lesser amount less to start.

It is true that some people gain from trading but you have to learn and you will first lose and later you will become better to know if you have to continue to trade or not. Do not use high amount of money to trade, avoid that.

Trading can be sometimes profitable, but it can also be a source of great loss, depending on how skilled and experienced the trader is. However, for noobs in trading, expect that you will gain more losses at first but eventually, as you become more experienced and exposed to different trading scenarios, you will learn to adjust and adopt the required skills and strategies to make your trades work and result into profits. Know when to open or close a trade, that will help you to avoid inevitable losses especially for newbies like you.

[Silberman]

Trading can be sometimes profitable, but it can also be a source of great loss, depending on how skilled and experienced the trader is. However, for noobs in trading, expect that you will gain more losses at first but eventually, as you become more experienced and exposed to different trading scenarios, you will learn to adjust and adopt the required skills and strategies to make your trades work and result into profits. Know when to open or close a trade, that will help you to avoid inevitable losses especially for newbies like you.

We have to pay a price in order to learn, and on the markets that price has to be paid not only with your time and effort but also with some of the capital in your account, it is because of this that newbies should concentrate on protecting their capital, as it is inevitable they will make mistakes and lose some money because of them, however if they limit the size of their mistakes, then once they learn more about this market they will still have good chances of recovering what they have lost in a short amount of time, however if the losses they suffer are massive then regardless of the experience and knowledge they got out of those losses even the best trader around the world may find impossible to ever recover the money they have lost already.

[Aanuoluwatofunmi]

I would advise you to spend more time on a demo account. As for me, it is this method that allows the trader to try his hand in conditions close to real. It is due to this that you can get a good result.

Some never even make an attempt on this kind of move to start learning from somewhere, all they do is to begin the trading without considering what they might be missing out, this is why most cant avoid getting losses from what they do because they are not doing it the right way but expect the good results, there are online learning materials, guides, books on trading, article about trading, strategies as well as pattern to take while trading, demo account is a very good starting point to see how things works begin starting.

[jeraldskie11]

if you want to keep earning in crypto even if you don't trade I think you should try staking it's better because staking when the market is negative is the best way to keep earning instead of having to invest risky because the market is so volatile. i have tried it, for safe staking you can go to binance, it cost big for bigger profit but its ok as long as we have it.

Staking, in my opinion, is better when you put a large amount of money into it because there is a period of time to earn the % yield. The longer you stake, the greater your ROI. However, staking is still risky, especially if you don't know how to read the market because it's best to do it in bearish market. That is why many people are still losing money in it. Investing and staking still risk your capital if you don't know what you're doing.

[Huppercase]

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

I hope when you say Bitcoin trading has change lives, it is in two ways; there are traders that have gained and there are others that have lost an incredible amount money while learning trading, it is very important for you to know the risk you are involve, it is not as rossy as you may read online, there more to trading that people talk about in reviews and trading tutorials you see online, I hope you make a positive impact in your own journey.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

Everything lies in your pocket, the passive income you make depends on what you have to spare in each trade you open, a $1000 on a single trade of 5% is enough to make you $50 if you play your card very well because 5% is something you can make from this market easily, you can make more if the market is bullish in your favour or when you trade a coin that beomes traders favorite for pumps.

[michellee]

At this level, I am well informed about Bitcoin and its securities, I have read on the forum how Bitcoin and cryptocurrency trading has changed people's lives, and I am kind of interested in acquiring skills, I have read in many other threads on how risky Bitcoin trading is.

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

Many people want to start trading because they see many people already making big profits from trading. But those beginners don't equip themselves with basic lessons about trading and just wait for signals from other people to trade. That is a mistake because signals from other people will not be able to work optimally for them.

And if you want to start trading, you must learn about analyzing the market through its indicators, checking market trends, where the price will go and many other things. And you also have to learn to control yourself because later, you will encounter greed which has been a factor in the failure of people to take advantage.

But trading is not a passive income where you have to analyze market movements in trading actively. If you don't analyze, you won't be able to profit. So everything will depend on your ability to analyze market conditions and don't depend on other people but on your abilities.

[panganib999]

But at this point, I will really like to know whether or not Bitcoin trading is a means to gain profits during market speculations, and how possible it is to make passive income through cryptocurrency trading.

You can have a million dollars and lost it in some hours to trading. You have to be disciplined and do not let emotion control you. Learn the basics and do not use more than the amount of money that you can afford to lose to trade. Use lesser amount less to start.

It is true that some people gain from trading but you have to learn and you will first lose and later you will become better to know if you have to continue to trade or not. Do not use high amount of money to trade, avoid that.

I think those are already given. He's learned about bitcoin and all the benefits it could give you and all that kind of stuff. Not saying your advice is wrong, but I'm saying that at this point he's looking for technical advice that will help him with his trading journey. It's just a little redundant at this point and especially unhelpful. Next time focus on providing what they need right then and there and not beat around the bush.

Anywho, these forum threads could help you greatly when it comes to trading. Use them wisely

1. New to Trading - Tips and Suggestions (V1) Getting Started Full Guide
2. CEXs vs DEXs & Spot vs Future - Tips and Suggestions (V2)
3. Analysis & its Types - Importance of Analysis in Trading (V3)
4. Tips for Descriptive and Sentimental Analysis (V4)

You can also look at this helpful video on Youtube if these stuff aren't on your speed, this vid's one big compilation of all the fundamentals that you need to start on your crypto journey.
Good luck OP!

The Ultimate Cryptocurrency Trading Course for Beginners

[wajik-tempe]

I would advise you to spend more time on a demo account. As for me, it is this method that allows the trader to try his hand in conditions close to real. It is due to this that you can get a good result.

Some never even make an attempt on this kind of move to start learning from somewhere, all they do is to begin the trading without considering what they might be missing out, this is why most cant avoid getting losses from what they do because they are not doing it the right way but expect the good results, there are online learning materials, guides, books on trading, article about trading, strategies as well as pattern to take while trading, demo account is a very good starting point to see how things works begin starting.

Learning to trade demands a methodical approach at first. Trading without appropriate preparation might result in huge losses. Investing time in learning and comprehending trading ideas and methods is critical for long-term success. When making trading judgments, relying entirely on chance or intuition is insufficient. Traders may obtain the essential skills and information to make educated and strategic trading decisions by immersing themselves in educational materials and using demo accounts.