7 tips to know about crypto trading

[petulino]

Most things newbies don't know about crypto;

_ crypto trading is not a get rich quick scheme, it's a process and to be a profitable trader you must follow the process.

_ Never borrow money to start crypto trading, because it's very wrong to be trading under pressure.

_ Never give your coin to someone to trade for you, there is a high probability of you getting scammed.

_It is inevitable to hit losses at some point in the crypto market, it's just normal and it happens in any other kind of business.
What makes you a profitable trader is the ability to make more profit than losses.

_ The more money you put into crypto trading the more money you get and also there is a high risk losses without proper risk management in place.

_ Determination, consistency and practice makes you a better trader.
Don't despise your little beginning.

_ Learn to master your emotions.

The tips you mentioned are very relevant for both new and old traders. Especially new traders when they come to the market in the beginning, they think that it is very easy to make profit here and make a loss on the same mistake. all new traders can become excellent traders by following the tips you have given. all your tips are very good but controlling emotions is the essence of all tips because only one can become a successful trader who can control his emotions in trading.

I will add a suggestion that always invest money in trading that you don't need, because it is a risky platform even if you lose it will not affect your daily life. As this is a volatile market and in times of need, your purchased coins may be at a loss and you can make a loss when selling.

[palle11]

I will add a suggestion that always invest money in trading that you don't need, because it is a risky platform even if you lose it will not affect your daily life. As this is a volatile market and in times of need, your purchased coins may be at a loss and you can make a loss when selling.

We need every money that we have. Nobody says he doesn't need the money he has because people keep struggling to make more money. I think regarding to investment, the right saying is not to invest as much that you can bear if you lose it. Like you have rightly stated that it is a risky market with cryptocurrency, you can have profit doubling your capital in a day and you can also lose all of it same day, so to trade with good money management will keep you in the market longer. All monies are needed but we decided to invest some on a risk to get more.

[Renampun]

Most things newbies don't know about crypto;

_ crypto trading is not a get rich quick scheme, it's a process and to be a profitable trader you must follow the process.

_ Never borrow money to start crypto trading, because it's very wrong to be trading under pressure.

_ Never give your coin to someone to trade for you, there is a high probability of you getting scammed.

_It is inevitable to hit losses at some point in the crypto market, it's just normal and it happens in any other kind of business.
What makes you a profitable trader is the ability to make more profit than losses.

_ The more money you put into crypto trading the more money you get and also there is a high risk losses without proper risk management in place.

_ Determination, consistency and practice makes you a better trader.
Don't despise your little beginning.

_ Learn to master your emotions.

the tips that you provide are very helpful for beginners who are just getting into crypto trading for the first time. but even so the experience factor is the most important thing, because after all experience is the most important thing for a trader to be able to improve their skills in trading or correct some of the mistakes they make so that it doesn't happen again in the future.

and one more thing that you missed including is courage, because sometimes you need courage to be able to make decisions on the crypto market. because sometimes bold decisions can give high profits.

[BD Crypto]

There are also some important tips to know about crypto trading and to do it perfectly. We must use a trusted and well known crypto exchange. We must always follow the trend and should avoid emotional trading. Also we must have patience and a proper investment strategy and risk management. Then we may success in crypto trading.

[Finestream]

It's like riding a bike, it's true that you will fall and get scratched, but 3 minutes of riding a bike equals hundreds of hours of trying to read books to learn to ride.

Well said! That's really good advice. Experience is often more valuable than spending a lot of time reading books to learn something. I'm not saying that learning is bad, but ultimately experience is what truly matters because it helps you achieve your goals. Long story short, simply gaining knowledge won't make you a skilled trader. I would suggest learning the basics and then immersing yourself in actual trading by starting with a demo account. You will definitely make mistakes along the way but you'll learn from them much faster and improve significantly over time.

Experience will always be the best teacher no matter what. Your books and other reading materials are not good enough, but give more time to letting yourself experience trading on your own because that’s the only way you’ll get improved and more attached to your craft. Otherwise, you will only trade to gain losses and not to gain real profits. Trading is hard and risky, that’s why you have to practice more to master your skills and trading strategies, and eventually master your own emotions as well as having troubled emotions will never get you far in trading.

[Cling18]

Trading is one of the most challenging things in the blockchain world and it requires lots of willingness and determination to reach success. These tips help build up a positive outcome in the future and to apply these, first, we need to have the proper mindset towards trading. It will not make us rich quickly as others think because the possibility of losing is always present but if we have the eagerness to work hard to adopt knowledge and learnings, we could make the right decisions on it wisely.
We can't do perfect trading in the beginning but as we go on with our journey, our experiences will help us explore and discover strategies that we can apply to generate good profit.

[freedomgo]

_ Determination, consistency and practice makes you a better trader.
Don't despise your little beginning.
(....)

Among the list, this is the one that "must have" of a trader especially traders that are starting, they must practice it and master it.
Because on your first few traders, there will be a lot of loss and win trades, you need to pass this phase.
So you need to be consistent because along the way you will learn a lot. Capital preservation is the key.

I guess not just in trading alone but even to other aspects in life, one must have determination and consistency, and a never ending practice until you get used to it and eventually master it. Trading is never easy and risky especially for noobs, but if you have the skills and strategies as well, somehow the risk of losing will be reduced.

[worle1bm]

There are certain tips which we should implement while trading but we can't say we will do perfect trade with them because experience traders also makes mistakes sometimes but they learn from their past mistakes.Like you said about borrowing money is risky because a coin can go down literally to low levels making it hard or impossible for you to repay the loan so we should avoid it but there might be some traders for whom it might have worked and they find it good but that's not the case always so you decide what's good after real experience and your journey.

[omgitsmehehe]

There are certain tips which we should implement while trading but we can't say we will do perfect trade with them because experience traders also makes mistakes sometimes but they learn from their past mistakes.Like you said about borrowing money is risky because a coin can go down literally to low levels making it hard or impossible for you to repay the loan so we should avoid it but there might be some traders for whom it might have worked and they find it good but that's not the case always so you decide what's good after real experience and your journey.

Crypto is not a get rich quick scheme, we ought to know what works for us and adapt good trading strategy. Our plans differs, option A trader plan might be different from option B, we just have to stick to our plans. The market is unpredictable and some days we make so much profits than our targets, while some unlucky days, losses are recorded, that's completely how the market operates. I'm acquainted with it, and caught our expectations short, no one knows the outcomes of the market, I simply advises we trade with caution.

[ancafe]

_ crypto trading is not a get rich quick scheme, it's a process and to be a profitable trader you must follow the process.

Wealth will be directly proportional to the capital you spend and trading is not always profitable and will not make you rich quickly. Ponzi schemes have also been introduced in a way that offers great income but is ultimately a fraud. Actually, this does not only apply to crypto trading, but wherever we have to achieve the process of making a profit and it's not as easy as one might imagine.

_ Never borrow money to start crypto trading, because it's very wrong to be trading under pressure.

In other words crypto votility can bring problems when you try to take out a loan in trading, it is better if you avoid it and use other ways to earn money.

_ The more money you put into crypto trading the more money you get and also there is a high risk losses without proper risk management in place.

Your simple logic will put in the amount of money according to the profit you want, the greater your capital the greater the profit, regardless of the risk of trading at a certain time experiencing a loss.

_ Learn to master your emotions.

Controlling emotions is important when you are trading, risk management must also be studied so that we can reach the emotional control stage because trading does not always generate profits.

[yudi09]

It's like riding a bike, it's true that you will fall and get scratched, but 3 minutes of riding a bike equals hundreds of hours of trying to read books to learn to ride.

What's strange is that if you fall off a bicycle, which causes scratches, you can't ride a bicycle and are afraid when you see a bicycle.

Many tips are given by people about things we want to learn. It's not wrong if those who provide tips about trading are people who have experienced various obstacles in carrying out trading activities.
One theory that I totally agree with is that you dare to try an error. In practice it is done in small quantities.

[Nrcewker]

Yes, whenever a person hears about trading, he thinks it’s an easy way to make money. But the reality is that, in trading in order to make money there is huge risk of getting you money in losses. Trading is actually a lengthy process and in order to be profitable here, you have to learn it properly. Don’t over trade than your budget. Trade the amount that you can afford to lose and at last always have patience. Trading and getting profits might be hard, but not impossible.

[michellee]

Those are good tips for beginners and I think they also apply to everyone who wants to start trading or is already trading. We have to learn more about trading to make a profit.

But it's better if you don't put a lot of money into crypto trading because if you don't have enough skills, it will be difficult for you to get a profit and even that will increase the risk you can get later. If you are still in the learning stage, it is better for you to use a little money to understand trading better.

And another tip is to enjoy the process and don't complain and don't think that trading is the fastest way to make money. Many people who think that way will only suffer losses and if they don't change their mindset, they won't be able to gain at all.

[Davidvictorson]

I would share mine too out of experience. They are pretty self-explanatory.
- In futures trading avoid picking very high Leverage because your chances of getting liquidated are also high. Too risky.

- always do your analysis before entering a trade.

- always take profits.

- trading is not a get rich quick scheme.

- have weekly trading targets. It is one easy way to achieve your trading goals.

- be patient and disciplined.

[Litzki1990]

A trader should have an understanding of all aspects of trading along with the mentioned topics. There are certain rules of trading which we should follow and then start trading. Just like trading can't make us rich overnight, we can't get hundred percent sure profit from trading. Losing money means you have to believe you can lose the amount you started trading with. And the most important thing in trading is to believe in yourself. There are many traders who trade depending on other's signals, it is never right, you should trade according to your own trading skills.

[molsewid]

I would share mine too out of experience. They are pretty self-explanatory.
- In futures trading avoid picking very high Leverage because your chances of getting liquidated are also high. Too risky.

- always do your analysis before entering a trade.

- always take profits.

- trading is not a get rich quick scheme.

- have weekly trading targets. It is one easy way to achieve your trading goals.

- be patient and disciplined.

Yes always talks profit, but make sure it will cover all the cost. That's why people forgot that they need to get their interest as well or maybe the initial deposit they have done because they keep on running their trades, it is not bad to take profits when you have a profit. For me it is better to be safe than to regret, I rather have little amount of money on interest rather than lost it all when market goes down.

[goinmerry]

Of course, most newbies are not aware of those tips you have mentioned because, after all, they are newbies.

Did you already see some newbies turning into a professional in crypto-trading in just a matter of a short period of time?

How can these newbies learn fully if they won't experience mistakes while building their trading journey? It's just common that newbies will suffer mistakes and losses as that's their foundation for becoming a good trader in the future.

Didn't you know that even professionals are still losing today? No one can stand the volatility of the crypto-market. What matter here is, if these newbies are serious about learning crypto trading, they will have the ability to make their own strategy that can be effective in their trading activity.

[jeraldskie11]

_ Learn to master your emotions.

To be honest, there's nothing wrong with borrowing money to start trading because if your trading strategy works, you'll be profitable as long as you stick to it. However, because you are borrowing and the interest rate is progressively increasing, it could influence the way you trade. That is why it is not recommended to trade if your capital is not your extra income since it will drive you to trade emotionally and make it difficult for you to stick to your trading plan, especially if you are on a losing streak, which has a larger possibility of draining your capital.

[wxa7115]

I would share mine too out of experience. They are pretty self-explanatory.
- In futures trading avoid picking very high Leverage because your chances of getting liquidated are also high. Too risky.

- always do your analysis before entering a trade.

- always take profits.

- trading is not a get rich quick scheme.

- have weekly trading targets. It is one easy way to achieve your trading goals.

- be patient and disciplined.

Yes always talks profit, but make sure it will cover all the cost. That's why people forgot that they need to get their interest as well or maybe the initial deposit they have done because they keep on running their trades, it is not bad to take profits when you have a profit. For me it is better to be safe than to regret, I rather have little amount of money on interest rather than lost it all when market goes down.

There are a few basic aspects which we have to know about our strategy, what is its win rate? What is the ROI on each winning trade? And even more importantly how much money you lose on each losing trade?

This is the basic of the basics and yet there are many newbies out there which do not know that data about their strategy, and depending and those numbers taking profits earlier may make sense or not, however not everything is about numbers, as there are circumstances in which taking profits early makes sense, and one of those scenarios is if you took the risk and invested in a shitcoin, this way by taking profits early on and get back whatever money you invested in that coin, you are from that moment on in essence playing with free money, and whatever you get by investing in that coin is pure profit, and if the coin happened to crash and go all the way to zero then you at least avoided losing any money.

[awik p]

_ Learn to master your emotions.

To be honest, there's nothing wrong with borrowing money to start trading because if your trading strategy works, you'll be profitable as long as you stick to it. However, because you are borrowing and the interest rate is progressively increasing, it could influence the way you trade. That is why it is not recommended to trade if your capital is not your extra income since it will drive you to trade emotionally and make it difficult for you to stick to your trading plan, especially if you are on a losing streak, which has a larger possibility of draining your capital.

there is nothing wrong with borrowing money and using it for trading, but this will create multiple psychological pressures. Logically, of course, we are required to be able to repay the loan, so we must make a profit. as long as we can anticipate our psychology it might not be a problem, but if we are still in the process of learning and don't have good trading knowledge, then this will be dangerous to our capital, losses can occur, and afterwards it will be more difficult for recovery