Im in cryptocurrency 6 months only but i will not risk like other newbies

AYOBA

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Quote from: Mrbuck on June 14, 2024, 12:05:39 PM

What you guys think about this ? I mean Im new so i might be wrong

This your movement is a good one has you make a good decision for yourself has you explained earlier, and as a newbie to have learn how to avoid the risks, because nothing good oas make a traders know how to control the risks that is involved in all the cryptocurrency aspects. But since you able to buy the some coins and only hold them in short time I think it will better and more profitable if you can hold them for a long period of time, so that in future you earned a huge profits.

However, has you said you've been in the cryptocurrency in 6 months now and you have know any risks anymore like some of newbies that are losing their money at times, which means you have achieved so much experiences about the cryptocurrencies, how will advice to keep up on research about the cryptocurrencies and all the trades aspects for you to become an expert person in traders.

Hyphen(-)

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Quote from: Mrbuck on June 14, 2024, 12:05:39 PM

What you guys think about this ? I mean Im new so i might be wrong

You are not doing anything wrong, you are only skeptical and don't want to lose money. You are not taking too much risk because you feel convinced and satisfied with the little profit you are getting from your short trades which is very good, just that you will not earn big on time Grin

Slow and steady win you race; keep going like this to keep accumulating your experience, and keep learning because am sure one day you will dream to trade high in which if you are able to gather some experiences now will be easier for you to manage your risks because there is no reason for rushing to make it quick while you can do it gradually with less risks.

DarkState

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Quote from: Mrbuck on June 14, 2024, 12:05:39 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 doing great. Keep doing what you're doing. Better to trade with less risk. You can study more about trading and do more research. Your coin selection is good. Hope you can do something good.

wiss19

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Quote from: mirakal on July 15, 2024, 07:55:57 AM

I guess trading won’t be much complicated if only these newbies will just stick on buying low and selling high, but I think that’s so hard to do for some newbies as they enter the market whenever they want and buy and trade those coins even when they’re just at hype. There’s so much for newbies to learn before trading, that’s why those who jump into trading with futures and leverage only end up with huge losses.

My advice is don’t trade if you are not confident on how to deal with the market. Read a lot and observe how these market charts bring significance to how those coins move in the market.

I have to agree with you, but as already mentioned it's never been easy because in crypto world we have many things to hype these newbies, and also we have to understand few things which are important for learning. I also try myself to do things like this with buying on low price and selling on high price but sometime while I stuck I have to wait long for this all which hurt me badly, and also I have margin of profit not as expected but still I feel this method works.

One more thing for newbies those are looking for having entry into trading just take your time and learn all things before entry because if you are not giving time for learning then surely you can go in trouble and things can go against you, and you're all process which is never been good deal.

GigaBit

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If you work as described in your strategy, you are more likely to profit. But as easy as a person can say but in reality when it comes to implementing things it becomes very difficult. Choosing the top coins to avoid risk in the crypto market is definitely a good strategy, especially if the investment between Bitcoin and Ether can be profitable. Although these coins will not see big ups and downs like meme coins but for long term investors it is possible to get good profits by investing in these coins. If you can control the greed, as it is possible to get profit from the market, the possibility of losing will also be reduced to a large extent.

Mahanton

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Quote from: Mrbuck on June 14, 2024, 12:05:39 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

Just stick on where you do find yourself having that kind of profitability because not all traders or investors would really be having that kind of profit specially into those people who are just new.
Dont mind other nobs or even with those old or veteran people who have been here on this market for a while now. This market will really be tough to handle and this would really be survival of the fittest.
If you wont really be thriving on doing such thing then you wont really be able to survive this market. This is why if you do find your USDT balance is increasing and this is really that your main target
then do the things on what you are currently doing now. 6 months experience on this volatile space is indeed short and you cant really be able to have that full grasps of it.

Profitability would really be that matter on how well you do make up trading decisions. There are really just those individuals who would really be that focusing into other ways
like dealing up with meme coins and some low caps because they do know that they could make huge amount of profits on the moment that they will really be
making up that kind of good positioning but well everything will really be just that depending on how well you do make yourself having that risks management.

mirakal

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Quote from: TheUltraElite on July 15, 2024, 06:50:32 AM

Quote from: lalabotax on June 18, 2024, 04:24:40 PM

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.

The OP is doing it right, staying away from futures and leverage means those traps are out, often newbies get trapped in these gambling type trades and lose a lot of money.

If they keep their head straight, buy at the low and sell at the high, they should be doing fine and be able to prolong their career for years. Being consistent in trading is important too, because this is never a short term gain.

Read and observe charts, that is what advice I give to those who are completely new or veteran. Then choose when and where to enter.

I guess trading won’t be much complicated if only these newbies will just stick on buying low and selling high, but I think that’s so hard to do for some newbies as they enter the market whenever they want and buy and trade those coins even when they’re just at hype. There’s so much for newbies to learn before trading, that’s why those who jump into trading with futures and leverage only end up with huge losses.

My advice is don’t trade if you are not confident on how to deal with the market. Read a lot and observe how these market charts bring significance to how those coins move in the market.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: lalabotax on June 18, 2024, 04:24:40 PM

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.

The OP is doing it right, staying away from futures and leverage means those traps are out, often newbies get trapped in these gambling type trades and lose a lot of money.

If they keep their head straight, buy at the low and sell at the high, they should be doing fine and be able to prolong their career for years. Being consistent in trading is important too, because this is never a short term gain.

Read and observe charts, that is what advice I give to those who are completely new or veteran. Then choose when and where to enter.

Litzki1990

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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.

Viscore

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Quote from: lalabotax on June 18, 2024, 04:24:40 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.

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.

Silberman

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Quote from: Mrbuck on June 14, 2024, 12:05:39 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.

lalabotax

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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.

Finestream

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Quote from: goaldigger on June 14, 2024, 01:38:12 PM

Quote from: Mrbuck on June 14, 2024, 12:05:39 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.

Right. Trading is never that easy but if you are trading with the right and highly potential coins, you will definitely be in profits, although losses are also inevitable but you can avoid too much of it if you are trading those top coins in the market. However, if you fall on the wrong coins, you may certainly experience losses but nevertheless it leaves you lesson as well, so not really bad for first timers in trading.

Fuso.hp

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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.

justdimin

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Quote from: retreat on June 18, 2024, 03:25:23 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.

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.

retreat

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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.

mich

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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.

abel1337

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Quote from: Mrbuck on June 14, 2024, 12:05:39 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.

milewilda

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Quote from: Mrbuck on June 14, 2024, 12:05:39 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
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.

mirakal

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Quote from: goaldigger on June 14, 2024, 01:38:12 PM

Quote from: Mrbuck on June 14, 2024, 12:05:39 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.

Risk will only increase if you don't know what you are doing, but if you are confident enough with the outcome of your own decision, regardless of how high the risk is, you can always lessen or avoid too much risks. Although trading with some altcoins or meme coins has always been associated with higher risk, but if you know the right timing when to trade your coins, I don't think losing a lot will still be possible. Altcoin trading is still profitable, you just have to trade with the right altcoins.

Topic: Im in cryptocurrency 6 months only but i will not risk like other newbies (Read 428 times)