7 tips to know about crypto trading | Bitcointalksearch.org

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Quote from: _BlackStar on June 19, 2023, 01:09:59 PM

Quote from: borovichok on June 18, 2023, 07:35:21 PM

Taking out a loan to invest in cryptocurrency is too risky for me; even if I'm aware of the tremendous gains created by cryptocurrency, I don't put my decisions in jeopardy.

Making loans to invest in highly volatile assets like crypto is highly discouraged - but some risk takers have done so in the past. Even some of them are willing to sell their house, car or other valuable assets to get a budget - but really it's too risky to do. I've read about it somewhere - but I forgot about the thread.

Many people may be too passionate about high expectations of return on investment - but they forget that doing so is too risky. I can't imagine what if their plans don't match reality, but one thing for sure it will only get them in big trouble.

Investing does not guarantee immediate profits so if you invest from a borrowed money, then most likely you will struggle to pay for its interest and monthly amortization once your investment still not paying off. However, for some risk takers, still they made it possible because they possess all the knowledge and experience needed to invest. But for newbies, taking a loan is highly discouraged as it could only ruin your finances once you find it hard to manage your funds and emotions as well.

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Quote from: gunhell16 on June 17, 2023, 01:54:48 AM

Quote

_ 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.

This is not true, most of those who invest heavily in cryptocurrency only burn their used capital due to the wrong purchase of crypto that is thought to give a good profit in the future. But there are others who only used a small amount of capital and it gave them a good profit in a short period of time.

Meaning, it depends on the knowledge that you have in conducting trading here in cryptocurrency, not that you just have a lot of money is enough for you to get a big profit, this is a wrong big understanding of crypto trading.

Well, trading at a bigger money also means higher risk of losing if you don’t know actually what you are doing. However, if you trade with the coins with highest potentials and you trade at its best price, then you will reap huge profits after. So it’s true trading becomes more profitable if you are highly knowledgeable in trading and you are trading with the perfect market price. While it could give us some life changing profits, it could also be a source of life changing losses if we are trading the wrong way.

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Quote from: Gallar on June 15, 2023, 08:35:43 AM

Quote from: Kara3 on June 02, 2023, 03:10:15 AM

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.

There are indeed many beginners who misunderstand this in the world of investment or crypto trading. Many think that trading or investing will make them quick to make a profit, even though having such thoughts is not quite right. Because as you wrote in this post, to make a profit in the crypto world, definitely need a process and coupled with thorough learning about crypto. So if don't enjoy the process, how can benefit? Maybe the reason beginners think like that is because they know or hear that there are many people who make big profits from investing or trading crypto. So the beginners joined in with the crypto world, with the desire to get profits quickly.

Unfortunately that is because of the marketing some influencers does, and that does impact the market terribly as well. They do marketing, even pay out ads that shows they made millions from trading and trying to sell you the secret, if you made millions then you do not need to sell it, so it's obviously a lie and nobody can prove otherwise ever, nobody ever has.

However, newbies sees this, and they have a pretty rough life and money is not abundant, so they decide to give it a shot and hope they can get super rich, which ends up being untrue and they lose their money instead. Crypto world is a place where you can either get rich in the distant future, or quickly lose all of your money, it's risky and dangerous so you should be careful.

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Quote from: synchronym on June 16, 2023, 01:18:05 PM

I would think that someone who understands business well and has no bad temper can focus on business completely. If he doesn't have cash then he can start his business through loan. When you start a business with a loan you must keep in mind. You will have to repay the loan bit by bit from the money that will be generated through this business. A person's experience is very important in doing business. If you do business with this loan, you must work hard. I think hard work is the key to success.

Honestly I don't see anything wrong with getting a loan to boom your business to make more profits from the market. There are different businesses we can venture in and if we know and to get what we want, we can always get a loan and grow the business to peak.
Getting a loan is not advisable if we don't know how to control money and use it to get what we want.

There is risk in the crypto market so this is different from our regular business that we are doing that might not have the kind of risk that we might to exposed to in the crypto market. If we can make sure that we are not going to lose the fund, we can get a loan and use the money wisely to trade in the mark6for the sole reason of making bigger profits to pay back the loan.

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Quote from: _BlackStar on June 19, 2023, 01:09:59 PM

Quote from: borovichok on June 18, 2023, 07:35:21 PM

Taking out a loan to invest in cryptocurrency is too risky for me; even if I'm aware of the tremendous gains created by cryptocurrency, I don't put my decisions in jeopardy.

Making loans to invest in highly volatile assets like crypto is highly discouraged - but some risk takers have done so in the past. Even some of them are willing to sell their house, car or other valuable assets to get a budget - but really it's too risky to do. I've read about it somewhere - but I forgot about the thread.

Many people may be too passionate about high expectations of return on investment - but they forget that doing so is too risky. I can't imagine what if their plans don't match reality, but one thing for sure it will only get them in big trouble.

Over the years we have seen several threads like that, some had a happy ending while some did not, however even if those selling their house or car are taking a massive risk by doing so, at least they are using their own money to invest in this market, so even if the worst came to happen they are just back to square one, however those that ask for a loan to invest in this market are in a way deeper problem, as not only they lost everything but now they have to repay that money with interest.

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Quote from: borovichok on June 18, 2023, 07:35:21 PM

Taking out a loan to invest in cryptocurrency is too risky for me; even if I'm aware of the tremendous gains created by cryptocurrency, I don't put my decisions in jeopardy.

Making loans to invest in highly volatile assets like crypto is highly discouraged - but some risk takers have done so in the past. Even some of them are willing to sell their house, car or other valuable assets to get a budget - but really it's too risky to do. I've read about it somewhere - but I forgot about the thread.

Many people may be too passionate about high expectations of return on investment - but they forget that doing so is too risky. I can't imagine what if their plans don't match reality, but one thing for sure it will only get them in big trouble.

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Quote from: CarnagexD on June 12, 2023, 08:27:53 AM

And you missed that there is an 8th. That is the actual practice and proper implementation of these 7 tips. You see it is not about knowing, it is how well you apply what you know. Because in trading, you are not rewarded for what you know, you only profit on the market on the decisions you made. And the quality of your decisions depends on the small things that you do in front of charts.

And remember that successful trading is not an event but a journey. Because if one day you realize that you already figure it out and you have the holy grail, I'm pretty sure that on your next trade, you will be humbled.

That is so important that it has to be repeated. There are so many people who end up with a trouble in the end and mainly because they see what they have to do and sometimes they ignore it. I have no idea why they do that but that's the sad truth. If people start learning what they should do AND start implementing that while trading then they would trade very well but most people fail to do that part.

I believe its not that hard, after learning what you should, then doing it should be easier but unfortunately there are way too many trading with no care in the world which causes them to lose money. I believe that it would be smarter if they ended up focusing as much on implementing what they learn as they learn, that way they could actually become better.

borovichok

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Quote from: jostorres on June 18, 2023, 11:35:50 AM

Taking a loan to start a business might be a good idea but only if you have a business plan that you know will work and you won't have to face difficulties in case your business don't go the way you might have expected, so it is better if someone tries to start a business with what they already have instead of taking a loan if they don't have a proper business plan and have no guarantee that they will be able to repay the loan.

Temper might have its impact on a business but the main thing is focus and hard work and improvement, if someone can keep improving their business over time based on the trends and likings of the audience, their business will have the most probability of getting successful.

Taking out a loan to invest in cryptocurrency is too risky for me; even if I'm aware of the tremendous gains created by cryptocurrency, I don't put my decisions in jeopardy. We are aware of the potential risks associated with cryptocurrency, and I am not prepared to go on this course of action. Loans charge extra interest if you don't pay them back on time, therefore it's never a good idea to take out a loan to start a new business. There are difficulties we experience, such as struggles fulfilling our targets in our businesses and recording substantial losses, all of which occur in order to close the business; these are negative barrier factors that all investors face; we are not exceptional.

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Quote from: jostorres on June 18, 2023, 11:35:50 AM

Taking a loan to start a business might be a good idea but only if you have a business plan that you know will work and you won't have to face difficulties in case your business don't go the way you might have expected, so it is better if someone tries to start a business with what they already have instead of taking a loan if they don't have a proper business plan and have no guarantee that they will be able to repay the loan.

Temper might have its impact on a business but the main thing is focus and hard work and improvement, if someone can keep improving their business over time based on the trends and likings of the audience, their business will have the most probability of getting successful.

I agree, I even took a loan when I started my business but it was a hard decision of course, taking a loan requires you monthly payment it is good if you have find a loan service who offers small interest. Taking a loan always took negatively by other people but what matter is how you can pay it and still have earnings. But taking a loan for crypto is very risky,not unless you understand the market and charts and you only invested to btc , eth because that is the only coin I will choose if I ever took a loan again and invest in crypto.

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Quote from: synchronym on June 16, 2023, 01:18:05 PM

I would think that someone who understands business well and has no bad temper can focus on business completely. If he doesn't have cash then he can start his business through loan. When you start a business with a loan you must keep in mind. You will have to repay the loan bit by bit from the money that will be generated through this business. A person's experience is very important in doing business. If you do business with this loan, you must work hard. I think hard work is the key to success.

Taking a loan to start a business might be a good idea but only if you have a business plan that you know will work and you won't have to face difficulties in case your business don't go the way you might have expected, so it is better if someone tries to start a business with what they already have instead of taking a loan if they don't have a proper business plan and have no guarantee that they will be able to repay the loan.

Temper might have its impact on a business but the main thing is focus and hard work and improvement, if someone can keep improving their business over time based on the trends and likings of the audience, their business will have the most probability of getting successful.

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Quote from: justdimin on June 16, 2023, 11:24:50 PM

Yeah, it is about understanding how to build income and not just profit. If you invest 100k into bitcoin and do nothing else and just hold, you are not going to be making as much money as someone who can put 1k dollars per month into bitcoin every month.

Eventually even with increased profits, that person will beat you, and that means you need to keep having more income. That means with that 100k, don't just put it in bitcoin, sure do that if you want bitcoin but also find a way to make more bitcoin with it as well. I know very few places where you can make returns, like 4-5% returns per year, that means income, that means more returns, that means you will have money coming in every month and that's what you need in order to get richer.

By putting fixed amount and then leave for certain period of time is also a way of earning and as you are talking about regularly put money into bitcoin so I think that everyone cannot afford investment on monthly basis. It is true that by putting large amount one can get large income but it also true that by putting large sum there is higher risk associated with larger sum. By holding one can get profit but it depends on you that you get profit on monthly basis or any other time when market is up.

I don't know that about which places you are talking but as we talk about crypto investment then we can say that there is no surety about monthly based income. Sometimes you will win and may be another time you face some risky situations so it will be more beneficial if you put less but take step with caution.

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Quote from: Kara3 on June 02, 2023, 03:10:15 AM

_ 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.

The fact is this principle doesn't really apply. In futures trading, the level of risk can be adjusted as if you had a higher equivalent amount of capital.
For example, now compare someone starting a $1000 position with 2x leverage with a $100 position with 20x leverage.

gunhell16

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Quote

_ 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.

This is not true, most of those who invest heavily in cryptocurrency only burn their used capital due to the wrong purchase of crypto that is thought to give a good profit in the future. But there are others who only used a small amount of capital and it gave them a good profit in a short period of time.

Meaning, it depends on the knowledge that you have in conducting trading here in cryptocurrency, not that you just have a lot of money is enough for you to get a big profit, this is a wrong big understanding of crypto trading.

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Quote from: Bushdark on June 15, 2023, 06:55:28 PM

There is nothing like top to know cryptocurrency trading. What we can do is to get tips that will improve our cryptocurrency trading. This is when learning comes in. We need to learn Crypto trading and for us to get aquainted to it, we need to get tips that will help us improve in our journey to become a professional traders that can predict the market even though the market is not that volatile for trading. There atrs many things crypto traders need to know to trade the market very well without having a consistent loses. Those who are making money in the market now are those that have learnt and understand the market and how it moves.

Knowledge is obviously a very important thing especially if you are trading cryptocurrencies since you need to have enough knowledge about every tool and indicator that can be used to analyze the market and the price movements of every cryptocurrency. Experience along with knowledge can make your trading way more efficient and affective, if you have both knowledge and experience, you will see a constant improving flow in your trading activities.

One might gain knowledge very quickly if they pick up things quickly because it is not rocket science and one can easily grasp the techniques and stuff about trading, but experience comes with time, so someone shouldn't take very big risks until they are experienced enough.

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Quote from: MFahad on June 16, 2023, 05:21:11 AM

Quote from: SOKO-DEKE on June 09, 2023, 02:49:07 AM

Yes, capital plays a very important role in profit-making in terms of trading, but it's all not about capital alone, someone's knowledge and skills in terms of trading are what determine the profits someone will make. There are some people who make reasonable profits with small capitals because they are good traders, so capital with good knowledge is the one that determines the amount of profit someone will make from trading.

This is the actual thing that instead of huge amount of money if you have no idea how to reap the benefit and how to increase your profit then this huge amount of money is useless until you learn every single strategy that will aid you to earn more cash.

Money and knowledge both are very necessary because if a person understands the market situations very well but have no money to use for profit then he cannot be a successful trader so in this situation taking loan is not a bad idea. Always remember that you should select that business in which your are familiar with risk management and you know how to take profit under any harsh situations.

Yeah, it is about understanding how to build income and not just profit. If you invest 100k into bitcoin and do nothing else and just hold, you are not going to be making as much money as someone who can put 1k dollars per month into bitcoin every month.

Eventually even with increased profits, that person will beat you, and that means you need to keep having more income. That means with that 100k, don't just put it in bitcoin, sure do that if you want bitcoin but also find a way to make more bitcoin with it as well. I know very few places where you can make returns, like 4-5% returns per year, that means income, that means more returns, that means you will have money coming in every month and that's what you need in order to get richer.

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Quote from: Kara3 on June 02, 2023, 03:10:15 AM

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

If someone actually does this, then I don't know why they even try trading in the first place. Although copy trading kinda similar but you still use their picks and you do the job, but still it's not reliable to do.

Quote from: Kara3 on June 02, 2023, 03:10:15 AM

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

In reality, lot of threads on this forum always stated they need to seek for 10X or even 100X coin to invest that means they want to earn bit hence want to get rich quicker. Although it's possible to see that number but it's really rare and if that happens, then that's good for you. But always keep in mind that if you want to seek that profit, then you must know about the risk as well. If one goal to get rich quicker then trading is not for them, they will lose miserably because chasing winning but not managing them.

Quote from: Kara3 on June 02, 2023, 03:10:15 AM

_ Learn to master your emotions.

This is difficult to do. Even experienced traders sometimes have an issue doing this although they have faced similar situations before. It's a human nature thingy, it's difficult to get rid of it but at least one must know how to control it so it won't affect you that much.

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Quote from: Kara3 on June 02, 2023, 03:10:15 AM

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.

Yes brother your thinking are well. I am also agree your some tips. Cryptocurrency trading is not a casino it is real time buy sell or Trade so there has no way to rich overnight. And i also think and agree with you never Borrow money for crypto trading. Because it creat extra presser as a result we will be losser. Always remember about risk because crypto trading is more risky. And to be a good trader meed proper knowledge so we have to learn More about crypto currency and cryptocurrency market. And remember most important things emotional trade is veey harmful for a trader. So we need avoid emotion for trading.

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I would think that someone who understands business well and has no bad temper can focus on business completely. If he doesn't have cash then he can start his business through loan. When you start a business with a loan you must keep in mind. You will have to repay the loan bit by bit from the money that will be generated through this business. A person's experience is very important in doing business. If you do business with this loan, you must work hard. I think hard work is the key to success.

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Quote from: Kara3 on June 02, 2023, 03:10:15 AM

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

I think most newbies know this, they must know that every business needs a process to be successful. But they may hurry to use bigger funds because they saw some professional traders can earn thousands of dollars from crypto trading. They don't know if it requires good skills and experience, it won't be achieved instantly.

Quote from: Kara3 on June 02, 2023, 03:10:15 AM

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

Sure. Using borrowing money isn't recommended. Besides we trade under pressure, we also will be in trouble if we get losses and we can't repay the money on time. I believe we will try to get loan money from another person if we experience the problem. So, the borrowing money is getting bigger and bigger.

Quote from: Kara3 on June 02, 2023, 03:10:15 AM

_ Learn to master your emotions.

Controlling emotion is always difficult to do, even it is an experienced trader.
We need to experience a lot of exercises to master our emotions. So, it should take a long time, especially for beginners/newbies who never know crypto.

MFahad

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Quote from: SOKO-DEKE on June 09, 2023, 02:49:07 AM

Yes, capital plays a very important role in profit-making in terms of trading, but it's all not about capital alone, someone's knowledge and skills in terms of trading are what determine the profits someone will make. There are some people who make reasonable profits with small capitals because they are good traders, so capital with good knowledge is the one that determines the amount of profit someone will make from trading.

This is the actual thing that instead of huge amount of money if you have no idea how to reap the benefit and how to increase your profit then this huge amount of money is useless until you learn every single strategy that will aid you to earn more cash.

Money and knowledge both are very necessary because if a person understands the market situations very well but have no money to use for profit then he cannot be a successful trader so in this situation taking loan is not a bad idea. Always remember that you should select that business in which your are familiar with risk management and you know how to take profit under any harsh situations.

Topic: 7 tips to know about crypto trading (Read 671 times)