How do I become a successful Bitcoin investor as a newbies? - page 2.

Dzwaafu11

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Quote from: Ricardo11 on July 11, 2023, 01:00:22 AM

Be sure to check the Bitcoin market before investing in Bitcoin.

Although it's a nice thing to do as an investor to check the Bitcoin price, for someone who is ready to invest in bitcoin for a long period of time, the current price of bitcoin is not an issue. Because we still expect the bitcoin price to be higher than the current price as we are now thinking of the bull run soon, you can see that as far as he is ready to invest, even if it's a little amount, he can do that for now because he is still a newbie and he may see the price and feel discouraged when he sees that he won't be able to get much btc with funds in his hand. However, he shouldn't mind the price right now; he will definitely get his money back and profit if he is able to endure the risk and can hold for a long period of time.

Quote

And be sure to research and invest with a professional investor before you invest anywhere. then You can be a successful investor.

I didn't get you correctly with what you meant when you said that he should find a professional investor; did you imply that he should find someone more educated about cryptocurrencies than he is to handle his investments? If that's what you mean, I don't believe it's appropriate for him to date. However, he is capable of doing it for himself through his commitment to the cryptocurrency industry; if he makes an effort, he will invest the money himself because it is not difficult.

Kimonoe

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Quote from: armanda90 on July 13, 2023, 09:43:55 AM

Quote from: ancafe on July 13, 2023, 07:13:58 AM

Knowledge will give birth to wholehearted confidence in investing because when you only hear the benefits of the way people are involved in investing, you will not draw conclusions. However, knowledge and courage are needed in facing risks, there is no place to make profits without risk involvement, but people must try to minimize these risks to a smaller extent.

Knowledge is the most important thing how to be success in trading exactly with cryptocurrency, but not all time depend with knowledge only because there are has skill and lucky how to be success as bitcoin investors. Some time after long time researching with some project or new coins for trading but many time miss out with our predicting and lucky some time can make us to earn much profit in cryptocurrency trading. Actually with knowledge can minimize with risk of trading but can't guarantee due how many trader have a lot of experienced in cryptocurrency trading but many time made the same mistake after investing and price drop later. Increasing knowledge is important but some time lucky could be moment help us how to be success in trading.

Investing is pretty simple, we buy the safest coins and hold onto them until the bull season comes. but indeed it would be better to learn first to know before investing, so that we will remain calm in the face of an incident. it's different with trading, knowledge alone is not enough to become a successful trader, experience is needed which we have to practice a lot of real trading. that way later we will have a graph of the progress of our trading system so that it is hoped that we can become professional traders, by trading in a pleasant manner

armanda90

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Quote from: ancafe on July 13, 2023, 07:13:58 AM

Knowledge will give birth to wholehearted confidence in investing because when you only hear the benefits of the way people are involved in investing, you will not draw conclusions. However, knowledge and courage are needed in facing risks, there is no place to make profits without risk involvement, but people must try to minimize these risks to a smaller extent.

Knowledge is the most important thing how to be success in trading exactly with cryptocurrency, but not all time depend with knowledge only because there are has skill and lucky how to be success as bitcoin investors. Some time after long time researching with some project or new coins for trading but many time miss out with our predicting and lucky some time can make us to earn much profit in cryptocurrency trading. Actually with knowledge can minimize with risk of trading but can't guarantee due how many trader have a lot of experienced in cryptocurrency trading but many time made the same mistake after investing and price drop later. Increasing knowledge is important but some time lucky could be moment help us how to be success in trading.

ancafe

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Quote from: gunhell16 on July 09, 2023, 01:41:41 AM

Maybe that depends on the determination that you have, because you need to have a wide knowledge of Bitcoin, you can't just rely on what you think is right, you must be the one who knows it is right because you have a basis rather than an unfounded one, I hope you get it that's my point.

Everyone has their own way of determining investment success in bitcoin and besides knowledge I feel calm and not panic is the way that will bring success in investing. Knowledge of bitcoin is very important and instinct is also very much needed, someone who has been involved in bitcoin investment for a long time no longer talks about market fluctuations and conditions, because they know that the cycle will repeat itself according to the coming year. Except for the involvement of beginners who don't understand how to make the right investment, because in essence investing in bitcoin will not bring someone to experience losses if they don't panic and worry too much about the market.

Quote from: gunhell16 on July 09, 2023, 01:41:41 AM

And you must be 100% wholehearted in the decision you make, you must stand by what you think about the positive you have in Bitcoin, hold on to it until you get it first.

Knowledge will give birth to wholehearted confidence in investing because when you only hear the benefits of the way people are involved in investing, you will not draw conclusions. However, knowledge and courage are needed in facing risks, there is no place to make profits without risk involvement, but people must try to minimize these risks to a smaller extent.

Ricardo11

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If you want to become a successful Bitcoin investor as a newbie, you must first gain detailed knowledge about Bitcoin and investing. you need to know about Bitcoin. Be aware of the potential of Bitcoin. And always be careful. Be careful when you invest then research well and invest at the right time. Be sure to check the Bitcoin market before investing in Bitcoin. And be sure to research and invest with a professional investor before you invest anywhere. then You can be a successful investor.

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Quote from: Salahmu on July 05, 2023, 03:32:34 AM

To be more knowledgeable
Invest in knowledge before putting your hard earned money on bitcoin, the opportunities in the market is unlimited. Do not fall for the Fear of Missing Out because the opportunities always existing in the market especially if you train your mind to see it.

Yes, by being knowledgable, newbies can prepare themselves better and wiser. What's more, investing in Bitcoin is very risky, it's not certain what you dream of, especially something that can make you rich suddenly. No.
In this case, it takes good knowledge to get involved in this crypto business so that everything that is planned and taken will not make us regret it.
Learning experiences from the past or from other people also needs to be done because this can make us more alert and understand the best.

wtsimis

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Quote from: Salahmu on July 05, 2023, 03:32:34 AM

I came across a post by newbie asking how to be a successful trader and the things that must be considered before investing, so I was encouraged to create this topic for us to share our knowledge, so below are some steps to be considered before investing:

Becoming a successful Bitcoin investor as a beginner requires a thoughtful approach and diligent effort. Below are some considerations and key steps.

1. Take the time to understand how Bitcoin working system, it's technology and its potential uses. Learn about blockchain, decentralization and the factors that can affect the price of Bitcoin.

2. Stay informed about the latest development news and trends related to cryptocurrencies.

3. Determine your investment goals and assess long-term investment and risk tolerance.

4. Start investing with the amount of capital that you will not have any problem losing.

5. Choose a safe and good cryptocurrency exchange that provides strong security for your assets.

But one thing to remember is that investing in crypto currency always involves risk so invest only after thorough research.

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Quote from: ScamViruS on July 08, 2023, 04:44:00 PM

Quote from: |MINER| on July 08, 2023, 03:46:12 PM

For becoming a successful trader with bitcoin I think one thing is most important and that is the patience's. Also, the things you mentioned are not out of the norm. But it must be patient among bitcoin investors because only if patient can hold for long term and in long term bitcoin definitely brings a good profit. And for those who are not patient, I would say no to Bitcoin Training Mainly.

Patience is important to get good results from any investment. And if you invest in Bitcoin and hold patiently, you can certainly make good profits. But patience and knowledge are also required, if an investor does not have proper knowledge about Bitcoin then that investor will not be able to get good results from the market. Therefore, knowledge is important for all traders, investors, if you make a mistake in the market, the market will not give you another chance. Investors who have made huge gains from Bitcoin know exactly what Bitcoin is and how it works, because they have proper knowledge about Bitcoin.

Knowledge is the root, the foundation of all the rest, as long as you have knowledge, other factors such as patience and risk management ability will be formed after that. I don't believe someone can patiently hold a property they don't know what it is. It can be said whether we will succeed or fail, it is our understanding that will decide.

Don't just learn patience or just focus on risk management…but learn everything related to bitcoin, thereby increasing your chances of success with it.

rozak

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Quote from: mvdheuvel1983 on July 09, 2023, 08:09:25 AM

Quote from: Salahmu on July 05, 2023, 03:32:34 AM

To be more knowledgeable
Invest in knowledge before putting your hard earned money on bitcoin, the opportunities in the market is unlimited. Do not fall for the Fear of Missing Out because the opportunities always existing in the market especially if you train your mind to see it. People do not see those opportunities because they never invest in their knowledge. You have money to make investment but why don't you have spair money for your education? Lack of knowledge will lead you to incur losses and the only one to cure it is to make an investment in yourself. The investment that you will do is not for short term only, but it can help you to achieve a lot of great things in life. So what are you doing now? Don't hesitate and make sure that you should invest in your mind.

Everything you have written can be summarized under this first point. Knowledge is the basis or foundation for every investment. It a proper knowledge base is built from the onset , when there is a market crash, the newbie will not be troubled or worried because they have knowledge of the past Market crashes and they are confident that the market will bounce back up. The same thing goes with risk management , and others.

yes, beginners do have to have a lot of knowledge in starting their investment. this affects how they will behave when market conditions do not go according to their plans. but unfortunately, not many beginners care about more knowledge. beginners are more serious about following signals and also directions from friends to trade or invest. this kind of thing may help beginners, but sometimes it hinders the development of beginners in broadening their knowledge and skills.

mvdheuvel1983

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Quote from: Salahmu on July 05, 2023, 03:32:34 AM

To be more knowledgeable
Invest in knowledge before putting your hard earned money on bitcoin, the opportunities in the market is unlimited. Do not fall for the Fear of Missing Out because the opportunities always existing in the market especially if you train your mind to see it. People do not see those opportunities because they never invest in their knowledge. You have money to make investment but why don't you have spair money for your education? Lack of knowledge will lead you to incur losses and the only one to cure it is to make an investment in yourself. The investment that you will do is not for short term only, but it can help you to achieve a lot of great things in life. So what are you doing now? Don't hesitate and make sure that you should invest in your mind.

Everything you have written can be summarized under this first point. Knowledge is the basis or foundation for every investment. It a proper knowledge base is built from the onset , when there is a market crash, the newbie will not be troubled or worried because they have knowledge of the past Market crashes and they are confident that the market will bounce back up. The same thing goes with risk management , and others.

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Quote from: ScamViruS on July 08, 2023, 04:44:00 PM

Patience is important to get good results from any investment. And if you invest in Bitcoin and hold patiently, you can certainly make good profits. But patience and knowledge are also required, if an investor does not have proper knowledge about Bitcoin then that investor will not be able to get good results from the market. Therefore, knowledge is important for all traders, investors, if you make a mistake in the market, the market will not give you another chance. Investors who have made huge gains from Bitcoin know exactly what Bitcoin is and how it works, because they have proper knowledge about Bitcoin.

Many think and come to crypto investment with intention that they will be rich overnight. This is prime reason why majority fails here. Bitcoin is volatile market and you need proper tools to handle this volatility. Two of the most important tools you already mentioned, i.e. patience and knowledge. You can only get success here if you can invest for long term like doing DCA. As far as knowledge is concerned it comes with time and practice.

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Quote from: Mauser on July 09, 2023, 02:31:18 AM

While it's true that the past is no guarantee for the future, I still find it the best guess we have today. When wondering what the price of a coin is going to be tomorrow, my first approach is to check the current price and the price one day ago. Observing the price at which exchanges traded a particular coin over the last several weeks is the basis for technical analysis. There are many trading indicators which rely on past data to try and identify trends that will keep running in the future. We can either believe in these trends or not, but if we don't believe it's hard to make consistent predictions of the future. For me technical analysis is a very important tool I have used many years now. I don't recommend to trust it blindly, but it can help new traders to build their own strategies. Just looking at the bitcoin price alone we can see that there are different cycles that change between bear and bull markets. Why not use indicators that help to identify these cycles.

The problem with technical analysis is that it can't give us a definitive answer, only a possible future move. It seems to me that the trend can also tell us a lot about the future price movement. This is also not an accurate indicator, but in most cases, especially on large timeframes, it works well.

I also noticed, and heard this more than once from more experienced traders, that when the market is in flat, it is much easier to trade, because we can see repetitive movements and this can be used, but it is also important that this flat has an upward trend, this will give us more chances to make a profit.

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Quote from: |MINER| on July 08, 2023, 03:46:12 PM

For becoming a successful trader with bitcoin I think one thing is most important and that is the patience's. Also, the things you mentioned are not out of the norm. But it must be patient among bitcoin investors because only if patient can hold for long term and in long term bitcoin definitely brings a good profit. And for those who are not patient, I would say no to Bitcoin Training Mainly.

You don't need much patience to become a good trader and it doesn't matter if you're trading altcoins or only Bitcoin, good traders needs smartness and that's what they'll use to battle the market and win. Patience is needed mostly when you're an investor. Traders also need patience but that shouldn't be what their career is built on. There's a big difference between trading and investing and it all has to do with the timeframe of holding your assets.

To benefits from investing in Bitcoin you have to hold for a longer period of time than an average trader will hold and that's why having patience is very important for an investor. But to profits from trading, you have to be able to take advantage of the volatility of the market.

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Quote from: gunhell16 on July 09, 2023, 01:41:41 AM

Maybe that depends on the determination that you have, because you need to have a wide knowledge of Bitcoin, you can't just rely on what you think is right, you must be the one who knows it is right because you have a basis rather than an unfounded one, I hope you get it that's my point.

And you must be 100% wholehearted in the decision you make, you must stand by what you think about the positive you have in Bitcoin, hold on to it until you get it first.

indeed to invest in bitcoin the main thing is knowledge and then is confidence in what has been done, so that you have the courage to hold on for the long term, without feeling panic when price fluctuations occur. many fail to invest in bitcoin due to not having sufficient knowledge, and are actually overly confident that their money will double, things like that actually boomerang for themselves because they get panic attacks, which end in panic sells, that's what happens most of the time, besides they buy in the bullish season and hold hoping the market continues to rise

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Quote from: Salahmu on July 05, 2023, 03:32:34 AM

Remember the Past is Past
A mistake that many new investors make is looking at the past and extrapolating that to the future. Yes, Bitcoin used to be worth pennies, but now is worth much more, so investors look to the future, not to what an asset has done in the past. What will drive future returns, Traders buying a cryptocurrency today need tomorrow’s gains, not yesterday’s.

While it's true that the past is no guarantee for the future, I still find it the best guess we have today. When wondering what the price of a coin is going to be tomorrow, my first approach is to check the current price and the price one day ago. Observing the price at which exchanges traded a particular coin over the last several weeks is the basis for technical analysis. There are many trading indicators which rely on past data to try and identify trends that will keep running in the future. We can either believe in these trends or not, but if we don't believe it's hard to make consistent predictions of the future. For me technical analysis is a very important tool I have used many years now. I don't recommend to trust it blindly, but it can help new traders to build their own strategies. Just looking at the bitcoin price alone we can see that there are different cycles that change between bear and bull markets. Why not use indicators that help to identify these cycles.

gunhell16

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Maybe that depends on the determination that you have, because you need to have a wide knowledge of Bitcoin, you can't just rely on what you think is right, you must be the one who knows it is right because you have a basis rather than an unfounded one, I hope you get it that's my point.

And you must be 100% wholehearted in the decision you make, you must stand by what you think about the positive you have in Bitcoin, hold on to it until you get it first.

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Quote from: Viscore on July 08, 2023, 04:15:18 PM

Quote from: ?? on ??

Good pointers especially the part of investing in knowledge and understanding the risks.

But for these newbies to truly understand what they are up to, they really need to understand the deep meaning of understanding the risks and the only way to do that is to try investing in reality and feel the real pressure of becoming an investor, especially in the volatile world of bitcoin.

More importantly, don't rush profits. It will take time and patience plays a big role in everyone's success.

True. Without knowledge investment and risk management, starting an investment will always be an epic fail. That’s why you have to completely understand what you are investing and how risky it is so that you can always invest with extra caution and extra care. Most particularly for newbies as they can be lured for easy and quick profits when the fact is bitcoin investing is for long term hodling that’s why patience is highly commendable.

The problem with some newbies really is that they easily get bated with high-yielding profits like ponzis, and also when they see someone that trades well and it turns out that trader is asking the newbie to join their paid signal groups, it is somewhat like they find a shortcut to earn or trade immediately, and that is the reason why they lose money. But again, you can't learn if you haven't experienced it, so that would be a hard lesson for all of those newbies.

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Quote from: |MINER| on July 08, 2023, 03:46:12 PM

For becoming a successful trader with bitcoin I think one thing is most important and that is the patience's. Also, the things you mentioned are not out of the norm. But it must be patient among bitcoin investors because only if patient can hold for long term and in long term bitcoin definitely brings a good profit. And for those who are not patient, I would say no to Bitcoin Training Mainly.

Patience is important to get good results from any investment. And if you invest in Bitcoin and hold patiently, you can certainly make good profits. But patience and knowledge are also required, if an investor does not have proper knowledge about Bitcoin then that investor will not be able to get good results from the market. Therefore, knowledge is important for all traders, investors, if you make a mistake in the market, the market will not give you another chance. Investors who have made huge gains from Bitcoin know exactly what Bitcoin is and how it works, because they have proper knowledge about Bitcoin.

Viscore

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Quote from: ?? on ??

Good pointers especially the part of investing in knowledge and understanding the risks.

But for these newbies to truly understand what they are up to, they really need to understand the deep meaning of understanding the risks and the only way to do that is to try investing in reality and feel the real pressure of becoming an investor, especially in the volatile world of bitcoin.

More importantly, don't rush profits. It will take time and patience plays a big role in everyone's success.

True. Without knowledge investment and risk management, starting an investment will always be an epic fail. That’s why you have to completely understand what you are investing and how risky it is so that you can always invest with extra caution and extra care. Most particularly for newbies as they can be lured for easy and quick profits when the fact is bitcoin investing is for long term hodling that’s why patience is highly commendable.

|MINER|

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For becoming a successful trader with bitcoin I think one thing is most important and that is the patience's. Also, the things you mentioned are not out of the norm. But it must be patient among bitcoin investors because only if patient can hold for long term and in long term bitcoin definitely brings a good profit. And for those who are not patient, I would say no to Bitcoin Training Mainly.

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