Topic: Im in cryptocurrency 6 months only but i will not risk like other newbies - page 3. (Read 408 times)

I suggest that you stay away from futures because, as you said, you are still a beginner in trading, and believe me, futures could be dangerous because it could swallow all your funds if you don't know how to work on it. Also, as long as you are not familiar with the market you are trading in, don't ever play with leverage because the higher the leverage, the higher the risk  and the possible amount you could lose. When it comes to meme coins, although it is also one of the most dangerous coins out there, there are still meme coins that have the potential to give you profit if you ride the trend, but one thing is for sure: meme coins have a short-term life span. After a big event, investors will sell all their holdings because they know how meme coins work, and of course they will never stay in a coin that they know will eventually lost its value.

That’s just the basics of trading: buying low when the price is still low, then selling when the price is high. But after buying, sometimes the price might keep on dumping; that’s when some people panic and sell at a loss, but if you have patience, just keep on holding till the price bounces back and you are in profit. As a newbie, that’s just what you are supposed to be doing.

It’s just better you keep on growing your money with spot trading and don’t even go close to future trading or meme coins. There is a high reward in future trading if you make use of high leverage, but we should also know that the higher the reward you are getting, the higher the risk you are taking, so it’s better not to be greedy and focus on your spot trading. You said you just spent 6 months in the crypto space, you just have to be careful and avoid meme coins because you can easily lose your money. If you really want to trade, then make sure you trade strong alt coins.

your strategy seems about right having the right approach, most of the time its distractions such as fomo that gonna make most of people lose their capital but your strategy will also fall short when the market took turn for bearish granted that you gonna keep accumulating but how much lows you could tolerate is also such thing that needs to be taken into account. but of course such thing can be solved by just buying at the very bottom but determining the bottom is like the hardest thing ever, i've experienced first hand buying at the bottom and get wrecked by the market to the point that the coin that I bought getting delisted even with trading volume still millions but the exchange judges its not good enough to still be in their platform.

but what I find best for me is just never do futures if you're not so sure about how the market will turn out and actually future can work wonder if we short some random altcoins that has reached peak and starting to have difficulty pumping higher.

added that even if our strategy works right now doesn't necessarily guarantee future trade to be working, market full of unique pattern identifying using technical analysis sometime just results in a really weak analysis.
trading in a nutshell feels like we just trying to predict what the whales are doing.

As a newbie I will say this is the best strategy out there to use. The first strategy of buying low and selling high and then DCA after there is a market dump. This is a strategy that many investors use to maximize profits. One thing I do ours when I wish to buy any coin I spend 70 to 80% intended amounts on the first buy then I later DCA with the remaining percent to top it up when a dump happens. When also taking profits most especially altcoins same percentage of 70% is taking out and the rest is left for the moon bag.

As for futures and memecoins trading I will advice you not to go into them as a beginner, the risk is very high when compare to spot trading, some of the memecoins are mostly rugs developed by scammers.

You're doing fine and if that's how you profit from this market, you're not different from any others. I do that as well and only buy when I think that the dip has been seen. You're new but you seem to be doing well with your strategy. But if you're going into the futures, I don't think that it's the time yet for you get into it. Stick to where you are right now and that's why many don't become profitable here because they try new things when they're not yet ready.

No one can be expert in this trading domain because everyone will have different strategy which may not work for everyone hence you can continue doing whatever suits you because only when we plan our our strategies we will be able to figure out which one works for us. Don't get distracted if you are able to make profit from this strategy then continue it even if the profit is lesser because once it starts compounding you will be amazed to see the numbers.

Things might probably hard for you at first since you are still a beginner. But don’t worry, you’ll get inclined with it in time. Just don’t trade if you still have confusions going out there, instead observe and learn first from those professional traders on how they have been dealing with the market uncertainty. And trading with leverage, that’s never a good strategy to begin with, so just avoid doing like that. For now, just do simple trading even with a small amount, but never expect quick profits as it’s hard to be given to a beginner trader.

Just buying because the price dropped isnt exactly a genius plan.  You gotta have some logic behind thinking itll bounce back up, not just that its cheap.  I mean hey things go on sale at the store all the time and it doesnt mean I need to buy more toothpaste! 

Anyway, take it slow and dont rush into anything crazy.  Thats my two cents! Once you get the hang of it you can maybe explore other altcoins and all that jazz.  Rome was not built in a day as they say.

Not sure what you really want to hear from us in this case? So you want to take the safer route by not trading with leverage and not lowcaps/memecoins, then okay? Best of luck, hope it works well for you, etc etc.

But yea, since you're new, here's some learning material: https://www.youtube.com/playlist?list=PLvkpxFSTppmnQ7A5DP386zEKU0Tv_fatm

COntinue on what you are doing on which if you do saw some progress into your USDT value or keeps increasing on which simply means that you are really that doing well on the things that you are currently be dealing with.
Its good that you dont make yourself that in a hurry or making yourself that being too greedy. Sticking with Bitcoin and other top altcoins is much more better rather than on touching up with those low caps or meme coins on which we know that it is really that indeed risky but there are people who do really take up some risks on dealing up with these things and there are ones who do lose up big time and there are ones who do able to make huge profits on which majority of us know that trading with meme can be some sort of gambling and if you are really that still a newbie then it would really be just that right that you wont really be dealing up something
like this.

Go continue on what you are doing right now because not all people or traders would really be that profitable anytime and if you've seen yourself that being profitable then you are doing a good job.
Enhance yourself even more with having that more experience and i would suggest that dont touch up futures trading if you arent that good with spot trading
because this one could really be considered to be gambling too if you wont really be that good on doing spot trading trading.

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.

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