Topic: Few tips of advise in bitcoin or crypto trading - page 2. (Read 373 times)

Chat would be able to help you with the sources - and that's really cool.
Other than that, it can hallucinate sometimes 

Many people try to enter crypto trading because they want to make a profit and that is not wrong at all but most people do not understand the pattern and eventually they experience losses.
Crypto is indeed different from fiat because it does not have a physical form especially when we trade which is overall more risky to lose and we can use it after converting it to fiat because not all accept payments using crypto in general.
Here we will see how daily trading works and more and more people are starting to get involved in it because they want to make money.

The effects of the development of our era see a number of cryptocurrencies emerging and it can even be said that there are so many, regardless of whether their journey in the market is good or not after running.

In today's generation, you can basically search anything over the net. You can even command ChatGPT what to search and it can give you right away the answers or at least related answers to your questions. So much better to  learn on your own and start small. The suggestions out there are not the ultimate answers but you can use them as guide.

When I was starting to trade  and have no idea about the coin. I usually search the basics - the ANN thread here in the forum, because you can already see the potential of the project how the devs are launching it - is there a solid foundation or just created in a rush? This is why- the ANN section in this forum is quite useful. You will already get good insights as to what kind of project is being launched by mere checking their thread. But some are good with talks, hence, they can mislead naive investors.

Some coins do not hold up for long even though they made their way to the top 30 coins on coin market or CoinGecko. The success of a coin is now how soon they’re able to make it to the the top 30 coins on this sites, but how well they’re able to hold on to their value and keep making their project a success for all investors in them all the time. Trading is one of the ways to make money in this crypto space without having to wait for years. Whether the market is on uptrend or downtrend, you can still make a lot of money with the right knowledge about the direction it’s going to take. Cryptocurrency assets are very volatile, some are easily manipulated and both of this points can cause a trader to lose money without the knowledge. So it’s advisable to always seek for knowledge before jumping into trading even if it looks so simple to make money from, without right knowledge, you’ll lose big in it.

This top 30- 100 that was mentioned by OP is just for trading if at all I get him right and criteria why they are there on both CoinMarketCap and CoinGecko is because of their market cap, I think the higher the market cap the higher you are on the list and this are coins that are less volatile and can be less risky in terms of trading most especially the top 30. But for holding I don’t think it should even be extended to that, at least top 29 is ok. Some of these coins actually fell off immediately after one particular bull run and that’s why it is a bad thing to me to hold way too long with altcoins except maybe you have taken profit already and leave remaining to run. But for trading like futures you have nothing to lose.


I think the narrative thrown at trading on the social media wouldn’t allow anyone of this newbies to think that it is not easy to be successful with trading, most of these influencers have actually been doing this for long and have another business to cover up for their trading but they just lure in followers just to get students or mantees to actually pay for their course. I have repeatedly said this most of them use this mantees fees as fat liquidity for their trading and nothing more.

That only proves that even those top coins in the market cannot guarantee future profits since those that are profitable today might eventually lost its value few years from now. Trading won’t still guarantee secured profits, but if you have certain strategies that are proven effective in trading, regardless of what coins you are trading, you will yield significant profits even if the market is not 100% favorable to trade.

Truly, thanks for your collection of posts!
Much appreciated 

Awesome crypto trading.
Learning crypto trading.
Two weapons in crypto trading, that need to be known by cryptocurrency traders and they should apply it for their trading positions too.
Stop loss order.
Stop limit order.
Let's see difference between Stop-loss and Stop-limit orders.

If they don't have idea and plan as well as tool for avoiding big losses, with Stop-Loss, Stop-Limit orders, their trading will become very dangerous, with potentiality of massive loss.

They would really be loving on dealing up with those new ones or simply with low caps or hidden gems on which they do know that they could be able to possibly earn or make 10-100x easy gains with these things and thats why i cant blame them on why they wont really be trying out to touch with those top ranking even on #30 spot below which marketcaps are already high. They will already be that projecting that the potential gain that they can be able to get and thats what makes them do able to consider out these low caps in compared into those established coins in the market on which im really that similar with this kind of aspect or approach when it comes to things. When it comes to advises then the most important thing i would be saying is about on that you should really be trying out to make that experience on how this market works specially on trading. There's no such thing or other people will really be able to make you learn up things on just simply reading or listening up someones advises. The best teacher will really be that experience.
Although reading or hearing up someones experiences will really be at least giving out that idea on the current thing that you are dealing into on which it is really that a plus somehow but the rest of everything will come through experience. This is why i do suggest that on the moment that you do deal up with something or trying out to learn then try to engage with it and in every moment that you do make out some action and experiencing those results then trying out to make adjustments and actions accordingly. Lessen up the risks as much as possible and trying out to control your emotion will really be always the best key on sustaining this unpredictable space.

I think the first thing new trader should know is that you can't be a millionaire immediately, many people has started Crypto-currency trading with the hope that the can flip 10 box into a thousand that's not happening mate even experienced traders would find that difficult.
One tip I would advice is don't follow social media traders. Those are failed traders in disguise all they are after is your money, they give out fake lifestyle to catch unsuspecting newbies then promise them wins all they have to do is buy their course. Be wise guys those guys would waste your time and maybe even kill your zeal.

I agree on this one because many new traders are trying to get into the newer ones. That's not wrong because they're trying to make some money too and if that strategy works for them, that's nice but it won't work for sure for most people because we're not the same. And aside from trading, there are also some of there that are good to hold for long term. But I want to give some ideas that in the past few years, there have been coins that are part of the top 30 - 100 and as of today, none of them can be found there.

If you are new to crypto and you probably have heard many things about crypto trading specifically and your are eager to get in, aside the brilliant tips that has already been provided by the OP there are some others. Assuming you are literally a newbie who is interested in crypto trading but you have no idea about Bitcoin and cryptocurrency in general, you should not yield to peer pressure to start trading immediately.

Your start off point should be accumulating Bitcoin. You should learn as well about wallets, learn about how to keep your cryptos safe which is the cyber security aspect of it. You don't want to go into trading and then lose all your money because you were lacking in the proper knowledge. It will take time however if you will see that that wait period was worth it if you had spent it in learning and going into the crypto rabbit hole.

Good day everyone! Maybe some of us here, especially those who are new to this platform, are curious about what Bitcoin or cryptocurrency is? and you have zero knowledge in trading and want to practice Bitcoin/Crypto trading, this topic I created is for you.

After this discussion, you will know the basics about what crypto/bitcoin trading is. and how to trade?

What is Bitcoin or crypto trading?
In my personal perception, I can compare it to foreign exchange; the only difference is that it is digital crypto assets. It is not like the fiat that we hold as money;
instead, it can be converted to any fiat all over the world.

It can also be considered a global marketplace for buying and selling various cryptocurrencies besides Bitcoin. And its average daily trading also ranges from 2 to 3 trillions a day. Therefore, it can be included in the largest financial market.

What are the top cryptocurrencies that are good to trade?

For me, the top 30 that you will see at coinmarketcap and coingecko; it's up to you which of the listed ones you want to trade.

Why are the ones I mentioned listed at the top good to trade?

* They are the ones with the highest liquidity, and also their market caps are in the billions of dollars.
* There is a lot of information about them.
* They have a low spread, except for Ethereum.
* They are more stable.
* They are also more predictable because we can see the pattern even though the market is unpredictable.

How does the cryptocurrency or bitcoin pair work?

* If in Bitcoin trading you have two currencies that are fighting, for example, the DXY that can be seen in the Trading view, when Dxy (the dollar) rises, that means there is a tendency for
   Bitcoin's value to decrease, and when Dxy falls, the price of Bitcoin will increase.

* If in cryptocurrency or altcoins when the price of Bitcoin rises, there are other crypto assets that also go along with the rise in the price of Bitcoin,
   and there are also others that do the opposite in cryptocurrency.

So that means no matter what is happening in the economy around the world, whether the country we are facing is in a financial crisis,
we can still get a profit here just like what is happening in the real-time world on exchanges in the market.