Topic: As a newbie to crypto currency (Read 902 times)

However, trading is a complex and uncertain process that requires deep knowledge and experience to succeed. For those who are new to trading or who have little knowledge in this area, investing can be a safe option because it reduces risk and increases the potential for long-term profits. I think you are right that you should first study the investment and the market, and then start trading gradually. And always seek advice from experienced traders. This approach is less risky and more likely to be successful.

That makes trading difficult since the market cannot be foreseen and is difficult to grasp because it varies over time. This is why you cannot stop learning, you must study at all times if you want to excel in trading. That is why some people don't even try to trade; instead, they invest in bitcoin or other coins to profit when they rise. What I've noticed in trading is that not everyone can gain from it; depending on how you study it, it can be difficult to make a large profit. So I typically urge my folks to just invest in bitcoin because most of them don't know about trading, and I normally tell them to study investment first before then can try trading and risk there funds no it. I still struggle with trading because I lack knowledge of it, When I try to stake $10 to $15, I typically lose, but when I use a domo account, things go well and I win, however when I use real money, the market does not move well. So I'm going to put trading on hold for the time being and focus on increasing my investment before learning how to trade properly and being a professional one day.

It's good to hear that from you, because as a newbie in Bitcoin for you to overcome the risks involved is when you listen to the advice of high rank members. Because what most newbie are suffering today in Bitcoin investment is a result of not listening to the advice of the high rank members, when they are wrong and they correct them they would start agueing without noing that they are preventing them from falling victim to scammers.

Losing money on cryptocurrency market depends on individuals they may take advice from people whom they think that knows more than but they may decides to do what their minds tells them. As a newbie it's important to have self control over every investments because most newbie jump from coin to token in the name of wanting to make quick money from their investments and of which i know that since they had no clue about how the market are manipulated you find them losing so easily.

How to survive the market as newbie:

• Do not get enticed about other people's testimony
• Do not think that all investment would give you 99% profits
• Do you think every opportunity is a Golden opportunity for you to become rich
• Do not invest in a newly launched coin, such as Trump coin and other new coin in the market that is not stable yet, they are hyped so much
• Just focused on Bitcoin for long term and of all, only allocate a particular amount for your investment at least money you can afford to lose

Good luck.

Your idea about trading is correct. If a new trader expects profit at the beginning, then there is a higher chance of losing money than earning. He should consider the trading platform as risky and make his next decision and avoid excessive emotions. Another recommendation you should make here is that a new trader should gradually add small amounts to buy crypto. Lump sum may be too risky for him at first as he will gain experience and will be able to add single amounts later.
There will be volatility in the market which he should consider as normal and be patient and continue to accumulation with discretionary income regularly. I think over time a trader will feel more comfortable with investments than short term trading because it is a long term process that guarantees him a risk free trend.

Buddy  I agree with you, as a newbie in the cryptocurrency (Bitcoin) space your first step should be learning the basic on how to invest in Bitcoin, the trading aspect shouldnt come to play first that's if it will even come to the picture at all, i have said many things about trading which nevers favour trading but the thing is anything we want in this space should be a personal decision and that's why i don't want to have much talk about this trading of a thing because most individuals will definitely have something to tell you why trading is good but this same individuals will never want to open up what they are facing as active traders, i have heard that there are professional traders but what I don't understand is, if those professional traders don't lose though thats a talk for another day.

Buddy though your contribution in regards to what you saying you will help everyone but next time it will be better for you to advise your fellow newbies than generalizing it.
Mate I will tell you for free that it will better for anyone to concentrate on investment in Bitcoin for a long-term than involving in some kind of trading thats even regarded as short term investment which is not part of Bitcoin investment concept, this is just an advise but as individuals our personal decisions is what matters

As a newbie to cryptocurrency, we should take advice from seniors! Check the market potential! Be aware of Bitcoin! But in the new situation, you should hold! Don't take any kind of gamble before the bull run! The rest is up to you. If you want to lose your money, you can take the risk! But I think only holding can bring you a portion of the profit.

Newbies can be encouraged about trading, but they cannot be allowed to trade directly. Of course, newbies have to be explained what trading is. If newbies can be slowly explained what trading is and how trading works, they will gradually become experienced in trading. However, I always support newbies not to go directly to trading because trading platforms are very risky platforms where people can lose everything at any time due to their carelessness or inexperience. However, the most important thing in a trading platform is to control their emotions, not to be overly greedy, and not to trade impatiently. If a trader can follow these few strategies, he will be able to survive in the trading platform and gradually become experienced.

Wetin you talk now na nothing but the truth. Some people Dey make the mistake of thinking say the crypto trading market deybonly Dey confuse the newbies, yes E Dey always Dey more difficult for the newbies because them Dey see wetin them never actually see before and E Dey usually take more time for them to familiarize with the market’s dynamics. But them fail to realize say whether newbie or experienced traders, nobody actually get the ability as a human to fit predict the market accurately. So the only advantage wey the older traders get for this issue na the experience wey them don manage to gather over the years wey them don Dey the business, anything other than that, na just the same thing.

Trading should not be encouraged for newbies because their understanding about trading will still be very little and they might not be able to control their emotions when they make an entry and experience losses. Practicing with a Demo account is good in other for them no have a little knowledge of how trading works but after practicing with the demo account, they should only trade with amount they can afford to lose while entering trades from a real funded account so that if they lose, they won't feel the it much and it is also good to give them a complete guide on how to trade and not hide any knowledge from them. Also make sure that they understand the various techniques they can apply while trading as it will also help them figure out some things within by themselves without needing to depend on you always.

Are you saying brokers manipulate on the market movement when using demo account to trade? Isn't it the same market with the same trading pairs shown on the charts. Are also saying brokers doesn't want you to gain profit using live accounts than demo? I am not saying you are lying but you are not the only person laying the same complain that the market movement using demo account is strange when using live account,

Let's talk about this if brokers has integrated a system that manipulate the market pattern on demo account and live account.

I'm still advising beginners to start with demo account because the risk is lower compared to a live account even if you are starting with small money. But you will be able to practice very well with a demo account, the live account you will just be careful with things you do even if you put the list $20, which means you will not be gaining that beginner knowledge and you will be so emotionally attached because you have money there.

With demo account you can make mistakes and learn knowing that it's a demo account and when you've gained certain ground you can always ask for the help from a more experienced trader to back you up when you start your official live trading. So I don't really have issue with demo account for a beginner, it's a good way to start, practice, learn fail and gain basic knowledge about trading.

No be only newbie dey always dey thrown by the cryptocurrency trading market complexity even some old traders do get thrown or incur loss because say the market dey very hard to predict or read. On a normal the initial thing person suppose do for this kind thing if they join or enter new na to study and learn thoroughly concerning that thing but I no dey guarantee you say if you study and learn finish you no go make loss ooo definitely you go make loss and sometime you go make loss woto woto because no knowledge dey sufficient enough to trade. Practicing with demo account no mean anything ooo, na when you put your own money you go understand waiting ah dey talk, some strategy fit they work for you for demo account but when you use your own money you go see say the game go change however, ah no mean to scare you but rather I wan just clear you waiting dey involve.

Lets not forget that practice makes perfect and experience is the best teacher, beginners can also go into trading. they dont need to read too many book but i think practice is better, they can trade with small amount of money to practice and learn the whole logic. i advice beginners who want to go into trading to Start small using 10-15 present of your capital, don't invest all at once. With scalping method you can make profit from many trades and it will save you from huge losses.

Demo trading is one thing i won't encourage anyone to start with though it's fine but is not actually good because when you are using demo, you feels to good and learned maybe, when boosting your account to another level you feels that you have enough capacity to control your live account and immediately you funds your account you automatically sweep it without hesitation because the market movement and directions with demo can never be the same with Live account. Live account is more technical and stressful to control unlike the demo account, so the best is when starting you should at least try to risk little amount you think you can use to start trading otherwise when got with demo it would that difficult for you to control live account.

Like wetin you dey try to explain here bro? We dey discuss newbies approach to trading but na fast payment and cheaper transaction I dey see for your own response. Well, I no go talk say you dey completely off point here but you don ever try to carryout Bitcoin transaction when blockchain dey congested? I guess No because you go really hate Bitcoin when your transaction gets stuck and you'll have to pay more than regular fee to get it approved or you wait for days before it can be processed if you don't want to pay high fees. You no fit refer it to faster or cheaper method of transaction at such critical time. The koko be say e dey give us full control of our assets without third parties control and can spend anytime as you wish.

By the way, Op as a newbie to this space, I think trading suppose be the least thing you go think of because no be something wey newbie go rush into. The problem we dey normally have be say we dey pay more attention to wetin we dey hear and say than wetin we dey observe. Like you hear someone is making it from trading and before you know you sef wan rush start trading so you go make am too. Lol you're just playing. You know wetin him face or how long before he reach this stage? Trading requires dedication, patience and sacrifice before you go become pro and na why plenty people dey rush in but na few dey succeed. If you no fit patience learn, you go really learn the hard way by donating your money to exchanges and brokers.

It depends on the Cryptocurrency the person channel their attention to, if it's someone that's investing on Bitcoin, you don't need to make much research about the market analysis or look for a broker that allows the operation of a demo account all it just takes is to study and understand Bitcoin here in this space or any other place that would broaden the knowledge and understanding about Bitcoin then make an entry at any point depending on their financial strenth then hold for long-term. Trading is very risky and instead of risking funds on a Cryptocurrencies with high risk factor, I'll advise crypto entusiasts to priotise a less riskier one like Bitcoin, then buy and hold for the future. It's not as if am condeming trading but it is highly risky for beginners in cryptocurrency to start their journey with that, if they need a better investment option then investing on Bitcoin is the right and best approach to it.

Even with people's posts about naming money from trading, the person will need to invest much of his time researching also on the past of those who now celebrate their success to see the stage which they pass before reaching where they are.

I won't even advise someone to start with real money first; instead, they should start by training themselves with a demo account using any broker that allows that before they can practice what they have learnt with little money to test how much they can control their emotions trading with their own money.

Actually trading is all’s about having enough knowledge about that can lead you to achieve your success, but not all people’s that vibe that’s some people’s are just jumping into the trading without knowing much about it and the trading is not all about that; it deserves who have so much emotional and the patience.

There’s some a lot of mistakes that beginners are always make when ever they come to trade instead of them as a newbie’s to trading for them seek for experience on how the trades market goes, but  since they see that a lot of people’s are cashing out when ever they trade; that’s what is also given them encourage where by they don’t want to follow the due process.

It is very important as a newbie you should learn more about trading before taking any step into it, these days some newbies find it difficult to learn more about trading because they are in a hurry to start trading and earning profit, what some people don't know is that learning is very important and what I mean by learning is to spent more time to learn and not in a rush, when you calm down and learn you will understand more and you can even have the confidence when it comes to taking risk.

Trading is a risk and if possible it is not even advisable for a newbie to do, the reason why some newbie is eager to trade is because of the profit, there is profit in trading but it is not the way some people take it, when it comes to crypto you have to be careful and have knowledge about something that can help you, trading is not an easy thing and if you lose fund during the process you won't hold any responsible.