Seeking a smart way to trade as a newbie

[Lamtel]

Looking at the Bitcoin volatility this days, do you think is favourable for young traders especially the newbies to trade or should they hold their Bitcoins pending when the price will appreciate, then they sell out their Bitcoins.

Or is it better to indulge in a calculative trading hoping one might be making little earnings since investment takes some considerable period of time to cash out the profit.

[Stalker22]

Seriously, how can we give you a simple answer to that question?

Yes, Bitcoin goes up and down a lot, so you could make a lot of money, but you could also lose like 20-30% of your money overnight.  If you are just starting out, you will probably freak out when the price goes down and sell at a loss.  Thats exactly what the full-time professional traders want you to do.

If you want to be smart about it, try Dollar-Cost Averaging (DCA).  Basically, you buy a little bit of Bitcoin every week or month, no matter what the price is.  That way, you end up buying more when the price is low and less when its high, and you dont have to stress about it so much.  Only "sell out your Bitcoins" when you have met a significant, multi-year financial goal.  If you are a newbie, keep it simple and keep your emotions out of the market.

[AdobeWriter]

Whenever you buy, however much you buy it's smart enough! Just never ever get into leverage trading. I've made it a mission of mine to warn whoever I can against this trap. You only get into leverage if you want to give away your money to Binance, Wintermute and Trump.

[Porfirii]

Looking at the Bitcoin volatility this days, do you think is favourable for young traders especially the newbies to trade or should they hold their Bitcoins pending when the price will appreciate, then they sell out their Bitcoins.

Or is it better to indulge in a calculative trading hoping one might be making little earnings since investment takes some considerable period of time to cash out the profit.

OP, my advice (and, at the same time, not financial advice ) is that you make clear what you expect from your trades, build a plan accordingly, and stick to it. We don't know your personal situation so we can't tell what's better for you, but you should think if buying and hodling for several years is something feasible for you, with the long term risk it entails, or you prefer to try to ride the waves in the short term, which is considered by many as another way of gambling.

Be that as it may, don't commit so much money that you suffer in case your plans don't go as you would have expected.

[noorman0]

If your motivation is profit, the first option is better for beginners; in my experience, it's consistently effective.

And even better, accumulate regularly to generate significant percentage gains while developing your technical and fundamental analysis preferences. Then, you can risk some of your profits on more active trading. Consider it the cost of learning the complexities of real trading.

[SFR10]

Looking at the Bitcoin volatility this days, do you think is favourable for young traders especially the newbies to trade or should they hold their Bitcoins pending when the price will appreciate, then they sell out their Bitcoins.

Considering that none of us can answer your question with 100% accuracy, I think it'd be best to use a free crypto trading simulator that's based on real-time data for at least a month, then compare the results as if you were also doing the latter for a month.

[logfiles]

If you are a newbie, I would suggest you stick to basic strategies for now in the spot market, such as DCA. BTC seems to be on a downtrend lately, which is not a very good thing for spot market traders because riding the way isn't as easy as it seems, especially in short time intervals.
Proper risk management is a must and avoid over trading.

There is no other way of learning how to trade except through participating it in yourself however, we the market is not favorable, just leave the screen until the time you feel like it has become favorable. Perhaps you can use the time to practice on other strategies using demo accounts.

[Odogwu-Blockchain]

You called yourself a newbie and you are talking about trading? Nah, you shouldn't think of trading before you ruin your money, I won't advise you try it no matter what.

What's best for you is that, you should only buy Bitcoin and hodl for as long as you can, while you proceed to learning trading from an expert online or offline, whichever one suits you.

Don't think about trading for now.

[rat03gopoh]

The smart way is, of course, to assess your own abilities. You might need this: ?topic=5565268
I think a free subscription is enough to test your skills. Pretend you're trading for real, otherwise you won't learn anything.

[goldkingcoiner]

Looking at the Bitcoin volatility this days, do you think is favourable for young traders especially the newbies to trade or should they hold their Bitcoins pending when the price will appreciate, then they sell out their Bitcoins.

Or is it better to indulge in a calculative trading hoping one might be making little earnings since investment takes some considerable period of time to cash out the profit.

There is only one smart way to trade as a newbie.
And please, take my word on this as a veteran trader, as it will save your money:

Do not trade with actual money. Use a testnet that trades with fake money. Test your strategies and trading knowledge there.
Because you will definitely lose in your first few years until you start understanding how it works.

The only thing a testnet will not teach you is not to panic about losing real money. That panic is 50% of the reason why traders lose money.
They try to save their trades by accepting losses from bad trades.

[tabas]

Looking at the Bitcoin volatility this days, do you think is favourable for young traders especially the newbies to trade or should they hold their Bitcoins pending when the price will appreciate, then they sell out their Bitcoins.

Or is it better to indulge in a calculative trading hoping one might be making little earnings since investment takes some considerable period of time to cash out the profit.

The newbies IMHO should avoid trading even when we're in the bull run. They'll learn it eventually of what they should do but to hold their bitcoins and sell when it's likely the peak or when they feel that they should sell must be done. Many have avoided to sell on the near peak of this bull run and that's why they've missed the whole point of profiting as they hold. But it's also okay if they are looking forward for the next peak for the next bull run. I usually don't encourage newbies to trade even if they have made profits from their holdings.

[palle11]

Looking at the Bitcoin volatility this days, do you think is favourable for young traders especially the newbies to trade or should they hold their Bitcoins pending when the price will appreciate, then they sell out their Bitcoins.

I will try and be practical on what you are asking for.

Bitcoin is always volatile. That is, it is not a static market, you expect price to go up or down especially with futures trading. So waiting for less volatility is not a guarantee for winning trade. As a newbie, I will advise you to practice with hodling your bitcoin and observe the market price to see the fluctuation. You don't have to jump into the market because you want to profit, the story is not the same when you are trading. So the process you can start with is to hodl your bitcoin and learn with practice account or demo for a period of 3 months.

Or is it better to indulge in a calculative trading hoping one might be making little earnings since investment takes some considerable period of time to cash out the profit.

What do you mean by calculative trading? Do you mean trading gradually with low risk or you mean scalping but I tell you all is risky when you don't understand the market. No trader that doesn't calculate before entering the market but they end up losing if it is not the right time to enter an order

[Potato Chips]

I would heavily consider your risk appetite.

For one, holding bitcoin would have the least risk, whereas you'd be risking more when you dabbled into trading especially as a newbie.

Though, everyone starts somewhere in trading. If you're truly interested, you could take a middle ground approach wherein you allocate a small portion of your funds for trading, then the rest goes for holding. You could do paper trading beforehand as well.

Good luck.

[CRYPTO---]

The current Bitcoin volatility presents both opportunities and risks, especially for young traders and beginners. While short-term trading might offer some profits, it also comes with higher risks. For newbies, holding Bitcoin until its price appreciates may be a safer option, while those willing to trade with a calculated approach can still make profits if done strategically.

If you choose to trade, tools like DICloak are incredibly useful. It helps securely manage multiple cryptocurrency wallets, isolate browser fingerprints, enhance privacy, and streamline the trading process, ensuring your wallets and transactions stay safe, making it ideal for both traders and holders.

[serjent05]

Looking at the Bitcoin volatility this days, do you think is favourable for young traders especially the newbies to trade or should they hold their Bitcoins pending when the price will appreciate, then they sell out their Bitcoins.

Or is it better to indulge in a calculative trading hoping one might be making little earnings since investment takes some considerable period of time to cash out the profit.

If one is not confident enough to trade then it is better to hold and wait for the price to appreciate, so try to do position trading. But if you have the knowledge and confidence with your skill, you can do any types of trading after all you have your knowledge and skill to back you up.

This forum has consistently advised beginners to avoid day trading/scalping until they fully grasp the market movement.  This will prevent them from unnecessary losses.  

[capokmerah]

Looking at the Bitcoin volatility this days, do you think is favourable for young traders especially the newbies to trade or should they hold their Bitcoins pending when the price will appreciate, then they sell out their Bitcoins.

Or is it better to indulge in a calculative trading hoping one might be making little earnings since investment takes some considerable period of time to cash out the profit.

The potential profit is relative, depending on when or at what price you buy BTC, and then you decide when to sell it.
If the results are profitable, it's certainly a simple and smart way to invest.
And only we know the current trading conditions, so that's when the appropriate technique is used. DCA can also be a less risky option.

[klonez]

I got into Bitcoin at $200, so I’ll share my personal opinion: the best trading strategy is to hold, but right now is not the best time to invest in BTC. Take a look at the MACD and RSI indicators; we are still in the overbought phase.  Good luck, it will work out—buy and forget is the best strategy today.