Topic: A nob in trading needs help - page 2. (Read 693 times)
trading bitcoin and other assets are not difficult to understand, thats if you really want to have the knowledge, i was once like you back 2018, when i see people make tons of money online i get wow and so asked my self when will i get to this stage what i did, i went into findings study more watch lots of YT videos just to have a basic knowledge of how to buy and sell. but the REAL TRUTH here is trading and investment is for SMART PEOPLE who already understood the RISK involved and not to panic. so if you want to be in that league get to WORK study more and ask less, also try DEMO accounts for practical.
As a new trader, it's essential to understand some key principles to navigate the world of trading successfully. First and foremost, take the time to educate yourself about the basics of trading, including different strategies, risk management, and market analysis. Start small and gradually increase your positions as you gain experience and confidence. Remember that trading involves risks, and it's crucial to set realistic expectations and not be driven solely by emotions. Develop a trading plan, stick to it, and always practice discipline. Lastly, be patient and persistent, as trading is a continuous learning process. Seek guidance from reputable sources, join trading communities, and never stop expanding your knowledge and skills.
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.
I will give you the shortest answer from my experience since this topic is complex and touches various perspectives including market manipulations. Trading is not easy and if you have heard of someone getting rich through trading without any experience that’s a pure gambling.
Based on my humble experience earning a good amount of money through trading requires a significant initial capital before starting to manage your risk, Safe and sustainable trading typically brings monthly profits of around 5%-8% of your capital, with the possibility of having lost months sometimes which is normal. So yes it is possible to generate passive income through trading, but it requires following specific rules, gaining experience, and practicing patience.
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.
You are right, but demo accounts are quite limited for some people, that is , they don't like to trade with demo accounts because they consider it a waste of time, but the real reason why it is good to have a demo account is to verify everything. of the exchange and so do not make mistakes when you have to do a real account , this is very Delicate, some think and underestimate those who trade with demo accounts, and what they Learn is very good, it is also always reasonable to do things with more Precision because here what is lost is money, and that does Hurt.
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.
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.
This is where learning is very important when you want to acquire knowledge. Doing research and asking questions is a way for us to get more skills and understanding about what we are aspiring for. There is need for us to get understanding in crypto so that we pass the knowledge to people around us. Quote
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.
The major reason why people are so attached to trading is to make profits and nothing more. The skills we have in trading will determine whether we are going to make profits or not. There are people that are making profits during market speculations and it all depends on how the market is moving. If you are lucky enough that the market falls along your trade then you are going to market profits except the contrary happens. 
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.trading bots are also not always profitable and I think many avoid using them,
Of course, everyone has their own decision.
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.
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.
I think that rather to involved in staking one should put some money in Bitcoin and instead of consider it risky one can also wait for the best because bitcoin can never disappear from a successful destination therefore it will be profitable if someone wait for the appropriate timing. It doesn't means that investment is risky but staking is not because staking posses its own percentage of risk and there is nothing which provides you profit without any risk so its Important to accept the profit with risk and try to learn those tips which is necessary to overcome the risk.
There is a misconception that trading can lead to instant profits, but the truth is that without a genuine interest in learning, even with a large capital, reaching our profit objectives is unlikely. Predictions in trading are not always reliable, and the challenge lies in navigating market volatility and managing our emotions during fluctuations. Successful trading requires discipline, which demands courage and determination. It is important to avoid rushing and instead prioritize gaining knowledge before engaging in trading activities. Building a strong foundation of understanding is key to long-term success in trading.
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.
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.
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)
Good luck OP!
The Ultimate Cryptocurrency Trading Course for Beginners
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.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.
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.
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.
Quote
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.
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. 
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.
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. 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.
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.
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.
hero member
Activity: 770
Merit: 538
Leading Crypto Sports Betting & Casino Platform
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.
Jump to: