Thank you for this update, it's really basic as you put it. And am really sure any newbie here would understand this with ease.
But one thing a newbie should understand also about crypto currencies and trading is,
It is never a get rich quick scheme, where massive returns on investment are just made overnight.
Rather it is something you have to develop patience with in order to reap the fruit of your labor.
Topic: Few tips of advise in bitcoin or crypto trading - page 3. (Read 741 times)
The most important thing would be to manage the risks properly and start out small.
You won't make a life change in one day - it's hard work of adaptation and sweat put into analysis + knowledge in the space.
You won't make a life change in one day - it's hard work of adaptation and sweat put into analysis + knowledge in the space.
If there is no good knowledge about trade, it will be difficult for people to manage risks because they do not know how to handle trade properly and manage risk alone is also not enough.
The key is never to think of getting big profits in a short time and trade does not provide the opportunity to think or act like that.
It takes a lot of things that need to be learned because trade is not easy to run, risk management and analysis of coin movements need to be learned so that we have a direction when we want to enter the market to install an entry.
Nothing is instant in this world and trading does not provide consistent profits because even though we are experienced there are times when we experience losses in trading especially for beginners.
I agree that everything in this world requires effort, as they say, no farmer can plant today and harvest tomorrow, they have to wait a few months before harvesting, and while waiting for the harvest time, we need to monitor what we planted because it might be spoiled later.
The same goes of course for crypto or bitcoin trading, where we are not only a community but also traders to obtain profit in the future via crypto assets that will be purchased as tools for us to get earnings in the end.
For those new into crypto and wants to trade , i suggest educate your self first because it's not easy to be honest, wherein you need to deep more before you become good on it. Infact for others it took years for them to become profitable, so i advice to don't be in a hurry and take the process .and for choosing a good palce to store crypto better rely which is on the top and has good ratings to ensure your capital is in a safe place.
The most important thing would be to manage the risks properly and start out small.
You won't make a life change in one day - it's hard work of adaptation and sweat put into analysis + knowledge in the space.
You won't make a life change in one day - it's hard work of adaptation and sweat put into analysis + knowledge in the space.
If there is no good knowledge about trade, it will be difficult for people to manage risks because they do not know how to handle trade properly and manage risk alone is also not enough.
The key is never to think of getting big profits in a short time and trade does not provide the opportunity to think or act like that.
It takes a lot of things that need to be learned because trade is not easy to run, risk management and analysis of coin movements need to be learned so that we have a direction when we want to enter the market to install an entry.
Nothing is instant in this world and trading does not provide consistent profits because even though we are experienced there are times when we experience losses in trading especially for beginners.
We understand that the market is full of surprises, but guess what? This also gives us hope—the chance to earn big if we get the right timing (buy/sell). However, trading is still a step ahead of gambling. With the right approach and smart strategies, trading can become a sustainable way to live and thrive.
The uncertainty is what I call as luck, we always read stories like crypto trader made 100K from 2000 and such but that's I can only relate as someone who won the lottery. We can do everything right from analysis, strategies, picking the right coins and pairs but we still need to be at the right time at the right moment to make is profitable. So it's a gamble but on different level which is why I won't suggest trading for someone to be their primary or only source of income unless they are already rich and doesn't need to rely on the profits coming from their trades.
Right now, we can see that a lot of people did whatever they could do and they still profited because bull market provides a good proof no matter what you do, there isn't really any single way of making money in the bull market, people are making profit in all kinds of ways. Some are trading with different indicators, there are over a dozen indicator people are using and most of them are making a profit from all of them, some are doing airdrops, some are doing futures, some do margins, some do early investment before launch, some do after listing, there are so many strategies and all of them are profiting, or at least most of them.
Only the people who losing are the people who invested into rug pulls, and during bull period the hype is a lot and everyone jumps into everything, so rug pulls are a bit more common, you should be careful about them and if you can do that then you are going to make a lot of money without worrying about much.
Only the people who losing are the people who invested into rug pulls, and during bull period the hype is a lot and everyone jumps into everything, so rug pulls are a bit more common, you should be careful about them and if you can do that then you are going to make a lot of money without worrying about much.
Top coins in terms of marketcap value doesn't mean it's stable crypto, it can crash overnight and no one might be expect that so don't came into any conclusions based on the market value which is always changing. But for a beginner lesser they choose then it's possible for them to concentrate on its analysis and make better prediction of market movements.
I got to say something even if we are the master of TA, still we need a bit of luck to be successful and profitable.
Perhaps those traders who compare trading to gambling—saying it relies on luck to make money—are speaking from their own experiences. But just like gambling, there is no perfect strategy in trading; that is true. Even having many years of experience, we can’t guarantee profits because of the volatile nature of the market.I got to say something even if we are the master of TA, still we need a bit of luck to be successful and profitable.
We understand that the market is full of surprises, but guess what? This also gives us hope—the chance to earn big if we get the right timing (buy/sell). However, trading is still a step ahead of gambling. With the right approach and smart strategies, trading can become a sustainable way to live and thrive.
Top coins in terms of marketcap value doesn't mean it's stable crypto, it can crash overnight and no one might be expect that so don't came into any conclusions based on the market value which is always changing. But for a beginner lesser they choose then it's possible for them to concentrate on its analysis and make better prediction of market movements.
I got to say something even if we are the master of TA, still we need a bit of luck to be successful and profitable.
Especially since this is not really speculation on our end but an event we have seen happening several times before, projects that enjoyed the support of the community suffered a tremendous fall in a matter of days and then they never really recovered, so trusting on the top coins simply because they seem to be too big to fail is a big mistake, which explains why many members are bitcoin maximalists, as bitcoin is the only coin I can see surviving no matter what during the next decades. I got to say something even if we are the master of TA, still we need a bit of luck to be successful and profitable.
Top coins in terms of marketcap value doesn't mean it's stable crypto, it can crash overnight and no one might be expect that so don't came into any conclusions based on the market value which is always changing. But for a beginner lesser they choose then it's possible for them to concentrate on its analysis and make better prediction of market movements.
I got to say something even if we are the master of TA, still we need a bit of luck to be successful and profitable.
I got to say something even if we are the master of TA, still we need a bit of luck to be successful and profitable.
A very good insight around t he basics of cryptocurrency and Bitcoin but I will say to the newbies,this isn't a financial advise so you are expected to still DYOR so you get better insight I to what you should do and how to make decisions for yourself when it has to do with picking the coin you would want to invest in or probably trade as the case maybe.
Do not do what you don't understand rather seek clearity then make sure you have gotten enough knowledge then you can delve deep in under an informed decision.
Do not do what you don't understand rather seek clearity then make sure you have gotten enough knowledge then you can delve deep in under an informed decision.
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.
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.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.
These words of the OP seem to me to be a summary regarding traders who are conducting trading activities in the field of cryptocurrency business. It is also just a guideline that in case newbies enter an industry like this, they have an idea of what to do, especially how to choose crypto assets that will provide profit.
There is no community that enters trading in the crypto space or bitcoin without thinking about profit, but it is better to have knowledge before trading because there are others who trade first before learning about trading, which is for me not the right way or strategy as a newbie trader.
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.
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.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.
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.
If you invest in the top 5, you will definitely make a profit in 3-4 years.
But that won't be trading
So, yeah. Lots of work should be put into finding the gem on the market and having exact facts about why you think this exact coin/project would be afloat for the time to come or even pump in the future.
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.
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.
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.
The most important thing would be to manage the risks properly and start out small.
You won't make a life change in one day - it's hard work of adaptation and sweat put into analysis + knowledge in the space.
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.
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.
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.
Chat would be able to help you with the sources - and that's really cool.
Other than that, it can hallucinate sometimes
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.
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.
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.
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.
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.
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.
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.
Am new to this crypto currency,hope you don't mind telling me more about it. And how I can start trading,I have heard so much more about it, please help me out
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.
Am new to this crypto currency,hope you don't mind telling me more about it. And how I can start trading,I have heard so much more about it, please help me out
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.
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.
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.
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.
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.
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.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.
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.
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.
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.
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 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.
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.
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.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.
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