Topic: Im in cryptocurrency 6 months only but i will not risk like other newbies (Read 298 times)
June 19, 2024, 01:19:40 AM
It is normal for beginners to make this kind of mistake because they don't have the idea of which coin to invest in and which coin is safe for them. It is very difficult for us to decide every thing in the new stage, the common mistakes made by newbies are easy for an experienced trader but not easy for a newbie. If you are well versed in all aspects of trading in just six months and if you only trade with reliable coins in the market then I would say your decision making skills are excellent. In this case you must have been focused on your work due to which you have managed to gain a good understanding of these subjects in such a short time.
June 18, 2024, 06:59:40 PM
Honestly, this is a pretty wise thing to do. Even when we understand and understand that we don't have enough abilities, it will be much easier to be able to control them better and wisely. One of them is by controlling and managing the risks we will take. Not by going all in on one project, especially one that is currently hyped, that will honestly be detrimental to ourselves. Or take high leverage when doing future trading. It would be very dangerous to do all this. Because of that, it is wise enough to find out the weak areas first, and even if the skills and knowledge have started to become more established again.
It’s not wrong to engage into new coins as long as you are only taking calculated risk. Even if you lose at first, that won’t be a burden to you, at least you also learn a lesson from that. However, I also agree that it’s honestly bad to invest or trade into hyped coins, the fact that they are only hyped with that particular moment, simply proves that they’re not good for long term investment. Study the movement of the coins in the market and choose which are more productive for you. Just invest with a small amount at first, and invest at your own risk. If you lose, that’s fine, but if you keep losing all the time, that’s not good anymore. Maybe there is something wrong with how you manage to chose your investment wisely.
June 18, 2024, 05:24:45 PM
I keep it Simple i trade only well known main coins btc eth and other main altcoins.
Today i discovered solana was lower so i just bought it i keep it until i see my balance getting bigger then i sell it.
If it's falling i'll buy some more one coin at the time Im not here to grow my coins amount but Im here to see my USDT balance getting bigger
I was looking into futures leverage trading and meme coins its too risky for me and it takes a lot time and nervous wich i don't have i'll keep it Simple just.
I don't want to touch low caps neither Because of delisting and sometimes not enough liquity.
Im not greedy i'll take my time i don't need that extra stress here to trade.
What you guys think about this ? I mean Im new so i might be wrong
You are taking your time which is the right thing to do, however the most difficult part is to stick to that strategy for the long term, as I am sure there are many newbies which may want to implement such a conservative strategy, but when they realize how long it will take for them to reach their goals, they get desperate and decide to take their chances by investing in shitcoins, and that is when they incur massive losses from which they cannot realistically recover. Today i discovered solana was lower so i just bought it i keep it until i see my balance getting bigger then i sell it.
If it's falling i'll buy some more one coin at the time Im not here to grow my coins amount but Im here to see my USDT balance getting bigger
I was looking into futures leverage trading and meme coins its too risky for me and it takes a lot time and nervous wich i don't have i'll keep it Simple just.
I don't want to touch low caps neither Because of delisting and sometimes not enough liquity.
Im not greedy i'll take my time i don't need that extra stress here to trade.
What you guys think about this ? I mean Im new so i might be wrong
June 18, 2024, 05:24:40 PM
Honestly, this is a pretty wise thing to do. Even when we understand and understand that we don't have enough abilities, it will be much easier to be able to control them better and wisely. One of them is by controlling and managing the risks we will take. Not by going all in on one project, especially one that is currently hyped, that will honestly be detrimental to ourselves. Or take high leverage when doing future trading. It would be very dangerous to do all this. Because of that, it is wise enough to find out the weak areas first, and even if the skills and knowledge have started to become more established again.
June 18, 2024, 04:09:32 PM
What you guys think about this ? I mean Im new so i might be wrong
There's nothing wrong here as long as you know what you are doing and yes dealing with the top coins are more advisable especially if you are still a newbie. Learning along the way is also part of the process, and of course always be ready for the possible losses because trading is not always about profit.
Learn also how to use and combine indicators, so you can know when is the best time to buy and sell, especially with the top coins.
June 18, 2024, 02:48:10 PM
It's definitely a smart thing to do and you trade the coins that you know are known so you think you have no risk here. No matter how well-known coins or reliable coins you trade, there will always be a risk to your money. Maybe if you trade with all other coins in the market, your risk will be very high and there is a possibility of losing your money. On the contrary, if you trade with the known coins of the market like Bitcoin, Ethereum, BNB, then the risk of your money will be reduced. Where others face so much trouble in selecting the right coins, it is definitely admirable that you have found reliable coins in just 6 months and are now trading with them.
Best wishes to you.
Best wishes to you.
June 18, 2024, 11:05:22 AM
What you have done is the best thing, because newbies who are new to cryptocurrency should not be involved in such risky futures or meme coin trading. Newbies should play it safe on the spot and while learning to trade they can learn other things they need to be able to hone their skills in cryptocurrency trading. Because the newbies who immediately trade in futures or meme coins are those who have FOMO and just go along with it thinking that who knows, they will be one of the lucky people who get hundreds of dollars from trading in this way.
Yes, a lot of newbies end up making bad decisions because they feel like they are too late and they want to take bigger risks to make a lot of money. That plays a big role but this whole GME stock thing played a big role too, some dude made hundreds of millions of dollars from the most unlikely stock of all time, and they think that if they can do leverage/futures, they could be like him but for some coin.The fact that a few people in the world did get rich this way doesn't mean that we all will, it is not going to be that easy, we should consider how that could change our life and we could definitely end up with something smaller. I believe that we can't really make it work, we just need to keep it going with reasonable stuff instead of risky ones.
June 18, 2024, 04:25:23 AM
What you have done is the best thing, because newbies who are new to cryptocurrency should not be involved in such risky futures or meme coin trading. Newbies should play it safe on the spot and while learning to trade they can learn other things they need to be able to hone their skills in cryptocurrency trading. Because the newbies who immediately trade in futures or meme coins are those who have FOMO and just go along with it thinking that who knows, they will be one of the lucky people who get hundreds of dollars from trading in this way.
June 18, 2024, 02:25:22 AM
Well it is good for you to only trade those well known coins. Bitcoin and Ethereum is the best ones for you to trade.
But you do not want to be like a newbie and risk all his profit on investing. There is alot of investors here that has had big profits just from hodling their coins.
You will not lose so much of your gains if you do that. And we do not know if it is the same for trading your crypto.
But you do not want to be like a newbie and risk all his profit on investing. There is alot of investors here that has had big profits just from hodling their coins.
You will not lose so much of your gains if you do that. And we do not know if it is the same for trading your crypto.
June 17, 2024, 03:11:11 PM
I keep it Simple i trade only well known main coins btc eth and other main altcoins.
Today i discovered solana was lower so i just bought it i keep it until i see my balance getting bigger then i sell it.
If it's falling i'll buy some more one coin at the time Im not here to grow my coins amount but Im here to see my USDT balance getting bigger
I was looking into futures leverage trading and meme coins its too risky for me and it takes a lot time and nervous wich i don't have i'll keep it Simple just.
I don't want to touch low caps neither Because of delisting and sometimes not enough liquity.
Im not greedy i'll take my time i don't need that extra stress here to trade.
What you guys think about this ? I mean Im new so i might be wrong
You are on the right path. Just continue on exploring and just trade what you are comfortable with. I myself is mainly trading bitcoin because I am comfortable with it. As long as most of your trades are gaining profit, stick with it even if you are doing a simple trade. Tapping into other trading method such as futures and trading low cap coins are risky, just play it safe until you are ready to venture out. Today i discovered solana was lower so i just bought it i keep it until i see my balance getting bigger then i sell it.
If it's falling i'll buy some more one coin at the time Im not here to grow my coins amount but Im here to see my USDT balance getting bigger
I was looking into futures leverage trading and meme coins its too risky for me and it takes a lot time and nervous wich i don't have i'll keep it Simple just.
I don't want to touch low caps neither Because of delisting and sometimes not enough liquity.
Im not greedy i'll take my time i don't need that extra stress here to trade.
What you guys think about this ? I mean Im new so i might be wrong
June 17, 2024, 02:54:09 PM
I keep it Simple i trade only well known main coins btc eth and other main altcoins.
Today i discovered solana was lower so i just bought it i keep it until i see my balance getting bigger then i sell it.
If it's falling i'll buy some more one coin at the time Im not here to grow my coins amount but Im here to see my USDT balance getting bigger
I was looking into futures leverage trading and meme coins its too risky for me and it takes a lot time and nervous wich i don't have i'll keep it Simple just.
I don't want to touch low caps neither Because of delisting and sometimes not enough liquity.
Im not greedy i'll take my time i don't need that extra stress here to trade.
What you guys think about this ? I mean Im new so i might be wrong
There's no right or wrong on what you are doing because we are dealing up with a market which is really that unpredictable and there's no way that you could really be able to tell that others are doing good Today i discovered solana was lower so i just bought it i keep it until i see my balance getting bigger then i sell it.
If it's falling i'll buy some more one coin at the time Im not here to grow my coins amount but Im here to see my USDT balance getting bigger
I was looking into futures leverage trading and meme coins its too risky for me and it takes a lot time and nervous wich i don't have i'll keep it Simple just.
I don't want to touch low caps neither Because of delisting and sometimes not enough liquity.
Im not greedy i'll take my time i don't need that extra stress here to trade.
What you guys think about this ? I mean Im new so i might be wrong
on which i have said that there's no way that we could be having that an assurance that we would be making profits. We do know that when it comes to price movement on which everything could really be that random and at the moment that you would really be finding yourself that being profitable then just simply stick into it. I do agree into those earlier replies of this thread that if you do find yourself that being profitable,
then why would really be tending to look for others way or method if you are really that sustaining?
Each one of us would really be needing up to mold up our minds on the things that its really that effective or something that works for us. You cant really just that trying out to follow
into those ways or methods which arent profitable. So if you do find yourself that making money on what you are doing now then it would be better to stick into it and make most out of it
since not everyone could make out their own strategies and ways for them to sustain this unpredictable space.
June 17, 2024, 01:26:19 PM
What you guys think about this ? I mean Im new so i might be wrong
There's nothing wrong here as long as you know what you are doing and yes dealing with the top coins are more advisable especially if you are still a newbie. Learning along the way is also part of the process, and of course always be ready for the possible losses because trading is not always about profit.
Learn also how to use and combine indicators, so you can know when is the best time to buy and sell, especially with the top coins.
June 17, 2024, 08:49:58 AM
I keep it Simple i trade only well known main coins btc eth and other main altcoins.
Today i discovered solana was lower so i just bought it i keep it until i see my balance getting bigger then i sell it.
If it's falling i'll buy some more one coin at the time Im not here to grow my coins amount but Im here to see my USDT balance getting bigger
I was looking into futures leverage trading and meme coins its too risky for me and it takes a lot time and nervous wich i don't have i'll keep it Simple just.
I don't want to touch low caps neither Because of delisting and sometimes not enough liquity.
Im not greedy i'll take my time i don't need that extra stress here to trade.
What you guys think about this ? I mean Im new so i might be wrong
Today i discovered solana was lower so i just bought it i keep it until i see my balance getting bigger then i sell it.
If it's falling i'll buy some more one coin at the time Im not here to grow my coins amount but Im here to see my USDT balance getting bigger
I was looking into futures leverage trading and meme coins its too risky for me and it takes a lot time and nervous wich i don't have i'll keep it Simple just.
I don't want to touch low caps neither Because of delisting and sometimes not enough liquity.
Im not greedy i'll take my time i don't need that extra stress here to trade.
What you guys think about this ? I mean Im new so i might be wrong
I will assume from your explanation that you want to scalp which is good but I hope you understand the market well enough, scalping to increase your USDT balance is not the problem but will you be ready when you open a trade and you don't know what to do next, this is where technical and fundamental analysis check comes into play, you really have to understand them to be able to maximize your profits in USDT.
However, have you also try and consider investing in some altcoins, as you said they are generally risky but there are some return that some altcoins will give you that trading can't give you no matter how smart you are with the market structure, you will surely miss some opportunity and this is why you should invest in them with little you can afford to lose and you will be good considering that you are a new to the market, if you do that, you will make more usdt in the future.
June 17, 2024, 05:36:35 AM
What you guys think about this ? I mean Im new so i might be wrong
You don’t have to think too much or assume that what you’re don’t is wrong as long as you’re getting the right result which is the main brain behind you starting to do it like this. The process you’ll use to achieve that should not be your main issue but finding the main result should be your concern. I have great hope that with this strategy of being patient and not too greedy to buy or to sell, you’ll see your main balance surge higher gradually. Good that you’ve made up your mind because it may not always go as planned, but with your patient mindset, you can achieve higher and bigger in this method you’ve decided to use. Let it be known to you that, the more the risk, the higher the reward and the higher the loss. To avoid disappointments, stick to what your heart can only contend with when the unexpected happens.
We really need to have these things in trading
- positive mindset
- achievable plans
- positive behavior
We can just take it easy but rather need serious attention knowing that trading is quite difficult which is why good preparation is highly needed.
June 17, 2024, 05:34:50 AM
Assuming the OP's first language is not English, feel free to visit your local country boards as well and welcome to the forum.
Trading in altcoins - not something I recommend to newbies. Be quick about them, book the profit and exit, dont hold them for long, unlike bitcoin which you should not sell unless emergency and continue to stack on.
Leverage and futures, all those other methods of trading are not spot trading. Remember that spot trading is the only place where you are not actually gambling with the money, you will have asset at hand at the end of the trade to do the opposite trade, maybe in the future - so not a complete loss. However leverage and all can wipe out your entire balance in a few hours.
Trading in altcoins - not something I recommend to newbies. Be quick about them, book the profit and exit, dont hold them for long, unlike bitcoin which you should not sell unless emergency and continue to stack on.
Leverage and futures, all those other methods of trading are not spot trading. Remember that spot trading is the only place where you are not actually gambling with the money, you will have asset at hand at the end of the trade to do the opposite trade, maybe in the future - so not a complete loss. However leverage and all can wipe out your entire balance in a few hours.
June 17, 2024, 05:08:15 AM
The best truth is that in any circumstance, you will definitely lose, so you should make that one of your priorities in case you lose. Even if you lose, it won’t be very hard for you to move on because even though you are not a newbie in trading, you will still lose, so it is not something new.
If the situation is guaranteed to be a loss, why are you still trading? This is trading, not gambling. Even in gambling, maximize opportunities and minimize risks as much as possible. and in trading, whether they are beginners or those who have experience. trading must be done wisely. If you can make a profit, why should you make a loss?
June 17, 2024, 05:03:17 AM
The best truth is that in any circumstance, you will definitely lose, so you should make that one of your priorities in case you lose. Even if you lose, it won’t be very hard for you to move on because even though you are not a newbie in trading, you will still lose, so it is not something new.
If the situation is guaranteed to be a loss, why are you still trading? This is trading, not gambling. Even in gambling, maximize opportunities and minimize risks as much as possible. and in trading, whether they are beginners or those who have experience. trading must be done wisely. If you can make a profit, why should you make a loss?Anything that entails risk most have to lose, believe it or not, that is the fact. I don’t mean you will always lose your funds, but in some cases, it is not in all coins that you will get a profit, in some cases, you will still lose, and yes, I know this is trading, not gambling. That is why I still say the truth for anyone to know, especially if you are a beginner in trading. Anyone who tells you that you will not lose in trading is just lying to you or he just wants to persuade you to join trading. But the truth is that at all risks, you are capable of losing, so don't be so ignorant as to understand the truth.
June 17, 2024, 04:50:12 AM
The best truth is that in any circumstance, you will definitely lose, so you should make that one of your priorities in case you lose. Even if you lose, it won’t be very hard for you to move on because even though you are not a newbie in trading, you will still lose, so it is not something new.
If the situation is guaranteed to be a loss, why are you still trading? This is trading, not gambling. Even in gambling, maximize opportunities and minimize risks as much as possible. and in trading, whether they are beginners or those who have experience. trading must be done wisely. If you can make a profit, why should you make a loss?Beginners who want to trade are advised to study and prepare everything first before trading. The point is to minimize the risk of loss. When you have good control with your trading, you can greatly reduce the risk of loss even though you are a beginner.
June 17, 2024, 03:56:50 AM
What you guys think about this ? I mean Im new so i might be wrong
Don’t be distracted, and always focus. Because you have a wise strategy as a newbie in trading, you use your knowledge to achieve a small profit, unlike other newbies who will be using trading chat analysis, which will not help them but just make them go in lost. Even though you are doing your research, you should always make your own decisions because, in the process of your research as a trader, you will encounter as many as you will ever think about strategy. and not all strategies you can adopt as a trader, you have to stick to what you will be able to endure.
The best truth is that in any circumstance, you will definitely lose, so you should make that one of your priorities in case you lose. Even if you lose, it won’t be very hard for you to move on because even though you are not a newbie in trading, you will still lose, so it is not something new.
June 17, 2024, 03:15:36 AM
(....)
What you guys think about this ? I mean Im new so i might be wrong
For me first, trade with basis and analysis, don't just trade because you feel it or discovered it, you must have reason/s to prove that why you open position on x pair. By doing that you will be able to learn technical analysis and you will use it in your future trades, especially if you are new, learning the basics is a must.What you guys think about this ? I mean Im new so i might be wrong
I also agree you trading first on Bitcoin, Ethereum and any other high marketcap altcoins is better.
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