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Topic: Any advice for a Bitcoin newbie? (Read 459 times)
I have some experience for the newbie in the current bear market:
1. Study the trade documents available on youtube or on the web to analyze charts on the tradingview so that you can buy at low prices and sell at high prices.
2. Must have steel spirit to be free from FOMO.
3. If loss is 5%, please cut loss.
1. Study the trade documents available on youtube or on the web to analyze charts on the tradingview so that you can buy at low prices and sell at high prices.
2. Must have steel spirit to be free from FOMO.
3. If loss is 5%, please cut loss.
Before investing in an ICO, be sure to know about the project and the team members. If the prices of your coins also drop, don't be in a hurry to sell them but rather hold till the prices go up again.
Don't be too rush, Be patient , be understanding and be observant all the time.
All valid arguments, but it sooo much 
Especially dyor... I get that but first one needs to understand how to properly research. Just using google doesn't cut it I guess.
Especially dyor... I get that but first one needs to understand how to properly research. Just using google doesn't cut it I guess.
Do your due diligence and read everything there is to learn with investing bitcoin. Do not watch youtube videos, most of those just care for the views they get rather than actually giving you sound advice.
My friend, I think your main mistake was deciding to invest in a market of which you had no knowledge or previous experience, and it is clear that like many other newbies you will be forced to learn on the fly, and you may lose money as a learning price.
But one of the characteristics of the great traders is their patience and persistence. I would not recommend selling at this time, but to hold in the long term. Meanwhile, take advantage of these waiting times to learn the basics of trading so that you have your mind occupied and do not make panic decisions.
But one of the characteristics of the great traders is their patience and persistence. I would not recommend selling at this time, but to hold in the long term. Meanwhile, take advantage of these waiting times to learn the basics of trading so that you have your mind occupied and do not make panic decisions.
I'll quote the meaningful and famous advice by Andrew M, MD of Maroon Capital Group:
“The biggest challenges that Bitcoin currently faces are flow of funds, a lack of market makers, and outsized exchange rate risk. It's nearly impossible to move USD in and out of the largest trading platform (MtGox) and, as a result, there are very few significant market makers participating in the exchange. Absent reliable providers of a liquid marketplace, volatility will remain high. This presents major difficulties for businesses and individuals that might otherwise accept Bitcoin as payment for goods and service in forecasting Bitcoin exchange rate risk. Bitcoin can't be a viable long-term currency unless, and until, it is more broadly accepted as an exchange medium for items of real value (i.e. these goods and services). These challenges are interconnected and the current regulatory assault is the single most important aggravating factor to these circumstances.”
“The biggest challenges that Bitcoin currently faces are flow of funds, a lack of market makers, and outsized exchange rate risk. It's nearly impossible to move USD in and out of the largest trading platform (MtGox) and, as a result, there are very few significant market makers participating in the exchange. Absent reliable providers of a liquid marketplace, volatility will remain high. This presents major difficulties for businesses and individuals that might otherwise accept Bitcoin as payment for goods and service in forecasting Bitcoin exchange rate risk. Bitcoin can't be a viable long-term currency unless, and until, it is more broadly accepted as an exchange medium for items of real value (i.e. these goods and services). These challenges are interconnected and the current regulatory assault is the single most important aggravating factor to these circumstances.”
I suggest that you have to study more about what you want to engage in, and also the crypto world. Crypto is a very big industry. Study to not just to waste your money and time. Go for bounties is a best start.
The only thing a newbie can do best is to familiarize themselves with the crypto market, carryout necessary research and know all there is to know
Read and study to learn ,and use that knowledge to earn. If you have questions dont hesitate to ask questions from the professionals or ask google for some answers.
Twiiter is not the exact people where you will find cryptocurrency experts. First of all learn the trade and enter the market. You also need to be patient and mentally prepare to take any hits. There are more failures in cryptocurrency than success.
As a fellow Bitcoin newbie
My advice to you very simple. Firstly you should be alert when investing in certain ICOs and lastly this one is very important RESEARCH RESEARCH RESEARCH.
If you see a project with potential make sure to research it before investing, if there is new and interesting Consensus algorithm research it because there always new and exciting things to learn in Crypto World.
Once you entered the Crypto World you become a life student just be willing to learn.
My advice to you very simple. Firstly you should be alert when investing in certain ICOs and lastly this one is very important RESEARCH RESEARCH RESEARCH.
If you see a project with potential make sure to research it before investing, if there is new and interesting Consensus algorithm research it because there always new and exciting things to learn in Crypto World.
Once you entered the Crypto World you become a life student just be willing to learn.
if you are a beginner in bitcoin use a phased transaction if the coin has a decrease in selling at the rising position
The best advice I can give you if is to HOLD your bitcoins in a bear market without selling it. If you know trading, then you can move your bitcoins into an exchange like poloniex and do margin trading where you get leverage to short sell in the bearish market, and in that way you profit from the market downward price.
if you are interested in being a trader, do not ever sell your panic coin when the price is low as the current BTC price is far from the price as 3 days ago. Learn the charts, the price of the moment may have happened, and it takes some time to fully recover. So, tranquility and emotional intelligence are the key traders.
Suggestions to a newbie from fellow newbie. hehe. I am here also still a newbie, and not yet good at bitcoin world. my suggestion is, we should keep learning about anything related to bitcoin, more reading and asking it is important for us, so we can become true bitcoiners. many of the real science we have to learn, one of which is this bitcoin trade. if we are not yet good at trading, I suggest that you do not have too emotional pursuit of profit. experience in trading is also an important factor. and if you have bought the coins and the price is down, you should keep holding your coins until the price goes up again.
Here's a word of advice, don't hold for the long term, buy low and sell high, but don't hold for an all time high as those are rarer than you think.
If the price drops 5% then buy it (unless there it is due to very bad news), then sell it once it goes up 3-6%, don't wait for ridiculous gains as you will likely suffer losses this way.
I suppose your recommendations is for day-traders. As you know it is not everybody that trade this way and I feel his question is for this category of people. If the price drops 5% then buy it (unless there it is due to very bad news), then sell it once it goes up 3-6%, don't wait for ridiculous gains as you will likely suffer losses this way.
If you lose profit, don't sell it right away with losing profit. Just wait and hold for your bitcoin to recover.
Yes. Three main advices.
- Before going for Bitcoin, make assured that you're living in a country where Bitcoin is a legal tender. Otherwise, you're not supposed to join this forum.
- There is no competition with those who invest in bitcoin. The performance of your investment portfolio is your own. If you treat it as a competition, you will be increasingly stress and frustrated and end up making emotional decision, not reasonable decision. That does not look good on you at all.
- Don't put all eggs in one basket, Diversify.
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