Few tips of advise in bitcoin or crypto trading

[justdimin]

For those newbies who would like to join with the crypto space its not just enough that you focus with your earnings because not all project is beneficial, those coins listed in the top list they made their reputation and project becomes more successful reason why they came up to the list of top 30, now its up to you where to invest because of course they have different road maps and goals with their token so the efficient token they have the higher the value they might be in the market and also include the supply and demand of the token at the same time. But recently tons of newbies right now would like to earn a large scale like what they have seen in the social media like others earning with shitcoins and memecoins but of course its a high risk reward attack not all coins is ideal to trade some of them are just hype.
Keep engage with the knowledge of crypto, the project, the token and future move to take it as a chance for an early entry.

I agree that investing into bigger coins is smarter, I wouldn't even say top 30, it's much better at top 20, but I would say I could remove a few even in that as well, first of all there is no "investing" into stablecoins, those are just stable, so you remove all of those, and I would remove Doge and Shiba as well, as far as I know there are two memecoins, I do not invest into them at all because they are not really good at all, and I would not invest into XRP, because it's too risky.

When you remove those all together, you have nearly 10-12 coins left and those are actually very good coins as well and I would suggest investing and trading those. Trading these top names will not be a big deal and will make most people money if they know what they are doing.

[iBaba]

For those new into crypto and wants to trade , i suggest educate your self first because it's not easy to be honest, wherein you need to deep more before you become good on it.  Infact for others it took years for them to become profitable, so i advice to don't be in a hurry and take the process .and for choosing a good palce to store crypto better rely which is on the top and has good ratings to ensure your capital is in a safe place.

Anyone who's talking about trading and is not discussing consistency have not given enough advise in my humble opinion. Trading requires serious consistency to be able to gain mastery. Maybe unlike investments who might not be so perpetual, most tradings are concurrently and prone to change. As a trader you also need to be adaptable to changes that come with trading being it spot or futures trades.

Many of my friends have engaged in trading different courses by joining different classes and performed wonderfully well, but due to their inconsistency, they are still finding it difficult to even drop signals when they're juniors are already doing that. I may not want to say that trading is a full time job, but the level of dedication one must give to it is relatively much and requires a daily consistency. I, therefore, like to advise that whenever we advise newbies on crypto trading, we should add the need for consistency in trading.

[jaberwock]

I understand your sentiments, but the majority of the community still wants to learn through experience, so some people enter futures even though they know the risk is high, but because they are risk takers, it's okay.

But it's true what you say that most people who enter futures usually end up losing, and only a few people make long-term holdings, that's the reality of what's happening now,
but it's also not possible for all buyers of bitcoin or crypto to just make long-term holdings, which would not be balanced also.

If it was only about experience, we can also learn through others but that won't make any sense if we still won't try the thing that we are having an interest with. This is how we can build or get our own experience about it. All that are here, no matter what is that task they are doing, they can still be called as risk takers because all here has their own risk, no matter if it's low, mid, or high. Most who enter futures are losing, it is because like he said, it is gambling. Even in gambling in casino, we also lose most of the times but if we do win, it is going be quick and the wins are also a little better. With what is said, this actually makes people to prefer long-term holding, as its risk is much lesser.

[alastantiger]

I may not want to say that trading is a full time job, but the level of dedication one must give to it is relatively much and requires a daily consistency. I, therefore, like to advise that whenever we advise newbies on crypto trading, we should add the need for consistency in trading.

We can decide to make trading our full time job but we need other jobs too and not just trading, the jobs can be online that you wouldn't have to leave your house to the office and you can also detect the hours of the day that you'll dedicate to doing the other work when you aren't trading. Trading teaches you through mistakes hence mistake shouldn't be avoided but be embrace as it'll teach you better than any mentor could've been capable of doing.

Don't restrict your trading to only top 30 cryptocurrency because sometimes the coins that would have given you the best victories aren't in the top 30 or any other high raking. When you have gained some experience don't be sacred of trading volatile coins but embrace all coins and you'll make more profits.

[Rockstarguy]

We understand that the market is full of surprises, but guess what? This also gives us hope—the chance to earn big if we get the right timing (buy/sell). However, trading is still a step ahead of gambling. With the right approach and smart strategies, trading can become a sustainable way to live and thrive.

The uncertainty is what I call as luck, we always read stories like crypto trader made 100K from 2000 and such but that's I can only relate as someone who won the lottery. We can do everything right from analysis, strategies, picking the right coins and pairs but we still need to be at the right time at the right moment to make is profitable. So it's a gamble but on different level which is why I won't suggest trading for someone to be their primary or only source of income unless they are already rich and doesn't need to rely on the profits coming from their trades.

There are lucks in trading that can hit one at anytime but the luck in trading is not what a trader needs to rely on and not to do right things that is required in trading. Some beginners believe they can enter the market to make profit with the little understanding they have towards trading just hoping they can hit the profit by luck. It will be better if beginners can try their best to have more understanding about trading and allow the luck to just occur without relying on it at least their will be good outcome in trading. If people go into trading and have the mindset and seeing it as gambling it can end up with a terrible outcome because they wouldn't bother to have understanding of how profit  can be made.

[Wiwo]

If you are new to crypto and you probably have heard many things about crypto trading specifically and are eager to get in, aside from the brilliant tips that have already been provided by the OP, there are some others. Assuming you are a newbie who is interested in crypto trading but you have no idea about Bitcoin and cryptocurrency in general, you should not yield to peer pressure to start trading immediately.

Your start-off point should be accumulating Bitcoin. You should learn as well about wallets and how to keep your cryptos safe, which is the cyber security aspect of it. You don't want to go into trading and then lose all your money because you were lacking in the proper knowledge. It will take time, however, if you will see that that wait period was worth it if you had spent it in learning and going into the crypto rabbit hole.

Asset protection is a very important factor in bitcoin trading because once you fail to have proper asset security, you will most definitely run into issues and possibly lose your assets along the line so learning about bitcoin and its wallet security and how to protect and guide our assets is very important starting point for any potential future traders.

Aside this also when it time to dive into trading bitcoin proper as a newbie, it is better to avoid tradingthe future markets because of the high volatility in such trading zone, best start up point for a newbie in trading is to start with spot trading this way you minimise your level of loses.

[LogitechMouse]

For those new into crypto and wants to trade , i suggest educate your self first because it's not easy to be honest, wherein you need to deep more before you become good on it.  Infact for others it took years for them to become profitable, so i advice to don't be in a hurry and take the process .and for choosing a good palce to store crypto better rely which is on the top and has good ratings to ensure your capital is in a safe place.

Anyone who's talking about trading and is not discussing consistency have not given enough advise in my humble opinion. Trading requires serious consistency to be able to gain mastery. Maybe unlike investments who might not be so perpetual, most tradings are concurrently and prone to change. As a trader you also need to be adaptable to changes that come with trading being it spot or futures trades.

Many of my friends have engaged in trading different courses by joining different classes and performed wonderfully well, but due to their inconsistency, they are still finding it difficult to even drop signals when they're juniors are already doing that. I may not want to say that trading is a full time job, but the level of dedication one must give to it is relatively much and requires a daily consistency. I, therefore, like to advise that whenever we advise newbies on crypto trading, we should add the need for consistency in trading.

With the amount of consistency a person is needed in order to be successful in trading, you need to spend lots of time, and of course money in order to be one. There are some that already quitted their jobs to focus on trading. Some became successful, but some ended up miserably.

I agree that consistency is one of the things that we need if we want to be successful in trading. Consistency = more experience and the more experience we have, the better the decisions, and the better we read the charts along the way. Unlike you though, I don't know anybody here in my place that's engaged into trading, and I don't want to teach them as well. As for the newbies, I believe it's hard for them to be consistent in trading especially if they saw that they lost their money in the first try. Some might find it demoralizing if they lost their money hence, they'll just quit learning it.

Overall, we need to be consistent if we want to learn, but aside from that, we need lots of spare time, and money as well.

[Faisal2202]

So that means no matter what is happening in the economy around the world, whether the country we are facing is in a financial crisis,
we can still get a profit here just like what is happening in the real-time world on exchanges in the market.

This is a good thread for traders as basics like these should be known to them but this is not enough we both know that? As what makes a coin good for investment or good to trade is totally have different requirements for everyone, first a trader has to understand what is trading and its types and time frames, and what season is this, what is BTC cycle, never trade without understanding the basics about BTC even if a trader is not trading in BTC. After that now what's technical and fundamental analysis? Learn some basic indicators.

Learn few things about candles, tradingview use, and how to trade, like SL, TP, Trail SL etc. You are good to go. I know this is also not enough. As the procedure is long but with time and with progress, one can make good trades. I really like the last topic to understand how a pair works, that's just the most simplest and important thing you said.

[iBaba]

We can decide to make trading our full time job but we need other jobs too and not just trading, the jobs can be online that you wouldn't have to leave your house to the office and you can also detect the hours of the day that you'll dedicate to doing the other work when you aren't trading. Trading teaches you through mistakes hence mistake shouldn't be avoided but be embrace as it'll teach you better than any mentor could've been capable of doing.

Brings me into asking, what are the jobs one can do as an individual outside trading when you decide to pursue a career as a trader. You speak like someone with experience about having more than a single stream of income especially since it's an online job and requires you taking some money, time and reasonable risks. What are the kind of jobs that can be practiced alongside trading that will ensure flexibility and profit making in both businesses plus how many jobs can one joggle together to open up more streams of income. Please be suggestive and mention some of these businesses you think we can explore.

[$weetne$$]

There are lucks in trading that can hit one at anytime but the luck in trading is not what a trader needs to rely on and not to do right things that is required in trading. Some beginners believe they can enter the market to make profit with the little understanding they have towards trading just hoping they can hit the profit by luck.

Beginners with this mindset are not going to be successful traders, you need luck when trading but that should be the least thing you should be more concerned about because you can create your own luck from constant practising and understanding the market. Most beginners do not understand the market therefore they misinterpret it and it makes them to lose, you do not have to know everything about trading before starting but there are some key information that you need to know to make you become successful. The more you trade, the more tips and knowledge you get from other experience traders and as you keep on learning, you will develop your skills to an excellent points that losing does not become a regular result that you get.

[milewilda]

We can decide to make trading our full time job but we need other jobs too and not just trading, the jobs can be online that you wouldn't have to leave your house to the office and you can also detect the hours of the day that you'll dedicate to doing the other work when you aren't trading. Trading teaches you through mistakes hence mistake shouldn't be avoided but be embrace as it'll teach you better than any mentor could've been capable of doing.

Brings me into asking, what are the jobs one can do as an individual outside trading when you decide to pursue a career as a trader. You speak like someone with experience about having more than a single stream of income especially since it's an online job and requires you taking some money, time and reasonable risks. What are the kind of jobs that can be practiced alongside trading that will ensure flexibility and profit making in both businesses plus how many jobs can one joggle together to open up more streams of income. Please be suggestive and mention some of these businesses you think we can explore.

Trying out to pursue something on which means on everything then it will really be just that depending on you because not all will really be having that kind of interest or dedication on dealing up with things. We do know that when it comes into this manner then it will really be just that depending on how well you do make yourself dealing up into something specially on having a job plus trying out to deal up with trading. It will really be just that a matter of dedication and time management because having work and having to deal with trading will really be that needing up that kind of handling. As for advise then experience would really be the best teacher because there's no one could be able to teach you up on how you will really be dealing up with trading. Yes, you can be able to get some advises and tips but everything will really be that depending on you on how you would gonna handle yourself when it comes into this aspect. It will really be that recommended that you shouldnt really be relying on others strategies because there are traders on which they are really that good on short term kind of trade and there are ones who are really that going for swing trades on which this is really that something that will be totally be according into someones preference on how they will be making up some trades. The main thing you will be needing is on how you will be able to sustain yourself.

[SmartGold01]

Beginners with this mindset are not going to be successful traders, you need luck when trading but that should be the least thing you should be more concerned about because you can create your own luck from constant practising and understanding the market. Most beginners do not understand the market therefore they misinterpret it and it makes them to lose, you do not have to know everything about trading before starting but there are some key information that you need to know to make you become successful. The more you trade, the more tips and knowledge you get from other experience traders and as you keep on learning, you will develop your skills to an excellent points that losing does not become a regular result that you get.

If I am not mistakenly I have responded similar post before in other forum, but I must give same insight here as well. Look trading is simple and one can make profits from trading, because it is not all trades we learn, we can simply buy bitcoin when it's extremely low and target back the market to hit at least 102 or 103 then sell. That is to say we can buy low and sell high, this doesn't requires much calculations or much time to earn and if you carefully understand how the bull run operates then fine.

It's the right time to earn more quickly without even having to study much, just as I did few week. I moved some of my holding to exchange and sold when it was higher, then I set a buying order at 90k and when the market moves to that direction automatically it triggers without me having to go under pressure or determining how the market would be.

The thing is, we should be smart enough to utilize the bull run and how it operates because whenever there is an intensive increase then we should know there would be a correction immediately after the market creates a new ATH, that is to say we should be ready for a buy back from the retracement (pullback) and ready for the support again to create another ATH. With this monitoring you can earn from the market while you keeps advancing in your trading journey and also exploring important material that would leads you to effective trading and become successfully.

[EL MOHA]

It's the right time to earn more quickly without even having to study much, just as I did few week. I moved some of my holding to exchange and sold when it was higher, then I set a buying order at 90k and when the market moves to that direction automatically it triggers without me having to go under pressure or determining how the market would be.

The thing is, we should be smart enough to utilize the bull run and how it operates because whenever there is an intensive increase then we should know there would be a correction immediately after the market creates a new ATH, that is to say we should be ready for a buy back from the retracement (pullback) and ready for the support again to create another ATH. With this monitoring you can earn from the market while you keeps advancing in your trading journey and also exploring important material that would leads you to effective trading and become successfully.

For a total newbie to trading I will definitely advice them to stick to this spot trading and simply just buy hold and sell when in profit but even as it looks simple there is still little knowledge needed for a similar trade plan like yours. You said sell at ATH and I ask how does one knows the ATH, before we have this particular ATH now we were literally setting an ATH almost everyday when in November, in short many people actually did put the ATH at $100k then but it got there and created another ATH, so looking for this perfect point is somewhat hard.

Reason is why I will say my strategy to newbies is set a particular price target as you sell and buy price if it gets there don’t allow your psychology tell you to break it stick to those points or simply leave short term trading and go for long term, then don’t wait for a perfect buy opportunity but rather simply DCA

[Pandu Geddon]

For a total newbie to trading I will definitely advice them to stick to this spot trading and simply just buy hold and sell when in profit but even as it looks simple there is still little knowledge needed for a similar trade plan like yours. You said sell at ATH and I ask how does one knows the ATH, before we have this particular ATH now we were literally setting an ATH almost everyday when in November, in short many people actually did put the ATH at $100k then but it got there and created another ATH, so looking for this perfect point is somewhat hard.

Reason is why I will say my strategy to newbies is set a particular price target as you sell and buy price if it gets there don’t allow your psychology tell you to break it stick to those points or simply leave short term trading and go for long term, then don’t wait for a perfect buy opportunity but rather simply DCA

What you convey will lead beginners who want to learn to trade on long-term investment. You also have to convey your tolerance level to hold assets. When to target selling with profit, and when to sell with loss.
Trading is not always profitable, and indeed such things must also be learned by novice traders. Not necessarily holding and then buying at a cheaper price if the price drops will always be good. It all depends on the market situation.

[SmartGold01]

Snip

For a total newbie to trading I will definitely advice them to stick to this spot trading and simply just buy hold and sell when in profit but even as it looks simple there is still little knowledge needed for a similar trade plan like yours. You said sell at ATH and I ask how does one knows the ATH, before we have this particular ATH now we were literally setting an ATH almost everyday when in November, in short many people actually did put the ATH at $100k then but it got there and created another ATH, so looking for this perfect point is somewhat hard. 

If you buy bitcoin at 90k and price hits 100k wouldn't you sell?
As a trader who doesn't know much about the market can actually practice this methods as I know it has helped me alot, most times I makes some extra 4-10$ within few days or week as the case may be, and when the gain much interest I sell and wait for another good opportunity to buy low. You must not directly wait when the market hits ATH. I said, I sold mine when the market hits ATH and of course currently the market is still bullish so there wouldn't be that much dip and even if there will be, is just a correction that wouldn't take that long, so as smart trader you can utilize it.

[Alone055]

If you buy bitcoin at 90k and price hits 100k wouldn't you sell?
As a trader who doesn't know much about the market can actually practice this methods as I know it has helped me alot, most times I makes some extra 4-10$ within few days or week as the case may be, and when the gain much interest I sell and wait for another good opportunity to buy low. You must not directly wait when the market hits ATH. I said, I sold mine when the market hits ATH and of course currently the market is still bullish so there wouldn't be that much dip and even if there will be, is just a correction that wouldn't take that long, so as smart trader you can utilize it.

The thing is, most newbies can't get their heads around these things because they are beginners and they don't understand things much. So even if you tell them it is very easy, all you need to do is buy low and sell high; they will still be confused because it is easy for us who know everything, but for them, things can be complicated and hard to understand.

You can't expect a complete beginner to understand when is the right time to buy and when is it to sell because every price they see, they will have the feeling that the market can go either way, so if they buy, it might crash and they will lose money, and if they sell, it might go higher, so such thoughts confuse them.

I would never recommend newbies making trades in a hurry. The market isn't going anywhere. If you have missed this cycle, there will be another cycle shortly. So, instead of losing your money by making quick decisions without understanding much, it's better that you focus on learning and utilize opportunities that will come in the future.

[SmartGold01]

If you buy bitcoin at 90k and price hits 100k wouldn't you sell?
As a trader who doesn't know much about the market can actually practice this methods as I know it has helped me alot, most times I makes some extra 4-10$ within few days or week as the case may be, and when the gain much interest I sell and wait for another good opportunity to buy low. You must not directly wait when the market hits ATH. I said, I sold mine when the market hits ATH and of course currently the market is still bullish so there wouldn't be that much dip and even if there will be, is just a correction that wouldn't take that long, so as smart trader you can utilize it.

The thing is, most newbies can't get their heads around these things because they are beginners and they don't understand things much. So even if you tell them it is very easy, all you need to do is buy low and sell high; they will still be confused because it is easy for us who know everything, but for them, things can be complicated and hard to understand.

You are right because most of them aren't that patient enough to learn and understand trading correctly, though it takes time to study and learn because if no much attention is given to trading then it's a poor foundation, that is why lot of people faces difficulty today in trading is from their poor knowledge and lack of patient to know much things about the currency they are trading on or even the type of trading they are to venture. So, telling newbies who aren't that technical enough to do what you would asked them to, but as they learn and study the entire environmental they will become used to it.

[$weetne$$]

The thing is, we should be smart enough to utilize the bull run and how it operates because whenever there is an intensive increase then we should know there would be a correction immediately after the market creates a new ATH, that is to say we should be ready for a buy back from the retracement (pullback) and ready for the support again to create another ATH. With this monitoring you can earn from the market while you keeps advancing in your trading journey and also exploring important material that would leads you to effective trading and become successfully.

It does not always work that way because at times the market can become bullish and it stays that way for a very long time. For those that were unlucky to think that the market was going to correct, they would have sold and then will be at a loss because they no longer have their Bitcoin. During the time when Donald Trump won his elections, the market experience some bullish momentum and it did not slow down until after some weeks therefore not every time will the market correct after a bullish run so we should not be always assuming and make mistake that will make us to not be part of those that will be receiving profit for hodling Bitcoin. Everybody thinks that they can buy low and sell high until they try to do it but what they realize is that they are doing the opposite.

[EL MOHA]

If you buy bitcoin at 90k and price hits 100k wouldn't you sell?
As a trader who doesn't know much about the market can actually practice this methods as I know it has helped me alot, most times I makes some extra 4-10$ within few days or week as the case may be, and when the gain much interest I sell and wait for another good opportunity to buy low. You must not directly wait when the market hits ATH. I said, I sold mine when the market hits ATH and of course currently the market is still bullish so there wouldn't be that much dip and even if there will be, is just a correction that wouldn't take that long, so as smart trader you can utilize it.

Even though as this looks a little simple to you I will say it wouldn’t be the best option for a total newbie to the space, this in my opinion is a short term trading and requires the basic knowledge of knowing when to actually buy or sell. For someone who might been looking for something like investment then a long term or swing trading is advice, you could sell at $100k and the market can continue to go up from there and never comes back to actually give a buying opportunity again

[Dewi Aries]

I agree on this one because many new traders are trying to get into the newer ones. That's not wrong because they're trying to make some money too and if that strategy works for them, that's nice but it won't work for sure for most people because we're not the same. And aside from trading, there are also some of there that are good to hold for long term. But I want to give some ideas that in the past few years, there have been coins that are part of the top 30 - 100 and as of today, none of them can be found there.

I think the first thing new trader should know is that you can't be a millionaire immediately, many people has started Crypto-currency trading with the hope that the can flip 10 box into a thousand that's not happening mate even experienced traders would find that difficult.
One tip I would advice is don't follow social media traders. Those are failed traders in disguise all they are after is your money, they give out fake lifestyle to catch unsuspecting newbies then promise them wins all they have to do is buy their course. Be wise guys those guys would waste your time and maybe even kill your zeal.

Exactly, in most cases, it is understanding and knowledge that often makes traders fail and lose a lot of money instead of making a profit, many of them, especially beginners, come because of FOMO and misunderstand what and how the trading world really is, most of them think and assume that trading is a get-rich-quick scheme which in the end that mindset makes them go through the process in a hurry and miss many important things that should be known and learned.

Maybe what you said in your second paragraph is true, my friend, but not all content creators or influencers are like that, I mean there are also some of them who don't dive while drinking water, but the point is I think we all have to be aware and understand that there is no success that can be achieved with little effort.