Topic: Im in cryptocurrency 6 months only but i will not risk like other newbies (Read 394 times)

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.

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

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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. 

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.

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.

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.

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.

Indeed, trusting ourselves is very important in trading, or else, all our decisions are unsure. Trading makes us lose, we all suffer losses before we achieve success but if we can't wait for the right time, we can no longer take it back and lose forever.
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.

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.

I'm not sure if you trade yourself? Failures are part of everyday trading. Even professional traders are wrong in around 49% of their trades. The 2% that they get right more often make the difference and allow traders to make money. So it is absolutely not the case that you are always right as a professional ... You just have to be successful more often than the other way around.

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. 

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.

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.

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.

I also agree you trading first on Bitcoin, Ethereum and any other high marketcap altcoins is better.

Not by different coins you purchased from the market that will give you access to huge amount of income OP,  because there are some coins will going to increase higher to allow their holders to make good income, and there are some coins that will remain low until they disappear from the market. I think, Bitcoin and Ethereum are good coins that will manifest massively in the future, because the team behind Bitcoin and Ethereum are very strong to always make their investors to smile whenever there is a bullish season in the market. That is a good plan not to trade within six months, I think you have made a good decision to hold your coins for a long term which is the right choice to make a huge amount of income when the bullish season arrive.

        -    There is nothing wrong if you want to do trading activity; as long as you know what you are getting into, I think that is fine. But the question is, since you seem to want to try futures trading, do you have any ideas on futures trading? Because it's really complicated to enter if you're shallow or have no idea about it. Do you know that?

If you have zero knowledge of futures, I think it's better to do the actual trade on the spot first because of futures because you can return in terms of your capital...
That's all I can tell you about this matter.

Traders needs their balance to grow in usdt and not in any altcoins unless you are only trading to increase the amount of that altcoins that you want to have in preparation for the bull market. When I take my profits from my trade, I keep them in usdt because that is what my goals are for as I want to grow my fiats balance to the extent I would not have to trade to have money to use. I am also investing in Bitcoin but I am doing that not when I am trading. Taking profits is very important in trading and that is what I always do. I do not think we have to only trade the no risky coin like memecoins, I think we should trade every cryptocurrency that we can make profits from.and make that profits because every coin can be used to make profits.

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.

Of course, every time we invest, we will feel the impact of price fluctuations. This depends on an investor in choosing a method or option in investing, playing safe in investing I think that is the best choice for all investors, trading well-known coins in trading I think this is very dangerous if the person has not received sufficient knowledge as their basis . This job is very difficult for everyone to create optimal profits. If you experience a lot of failures in trading, you should choose another method to minimize the impact of your big losses in trading.

If you don't want to risk, why don't you choose bitcoin and you choose an altcoin? If you don't want to risk it why would you take the time to learn about futures trading as well as memecoin? I see what you are doing contrary to what you say. Essentially , investing in altcoins , even if they are top altcoins, will still expose you to more risk than investing in bitcoin. And you'll be taking on more risk if you plan on trading with leverage as well as investing in memes, both of which are considered the riskiest when it comes to cryptocurrency investing.

For me , 6 months of experience is nothing to be proud of or to be honest you are still just a newbie. You need to spend a lot of time to learn and experience the market. It's still very early for you to be confident that you will never make the same mistakes as others, so don't be subjective.

Remember, for the whole six months, are you confident in the answer if you're asked, you're trading or you're speculating?

It sounds to me like you're trading, which is great (avoiding the low caps and only the big coins). People think they're going into the low caps and that's trading, when no TA works because market is too small and illiquid.

Just ask what you want to do, gain experience, improve and test your TA, or pure profit? I think you're on a good way

Although, you're new or you're pretending to be new but whatever you said or did was right. Trading main altcoins and Bitcoin is less risky than trading new coins as those can be unlisted from platforms anytime and you may end up losing your capital.

Those who trade altcoins understand that the altcoins are much riskier than Bitcoin but the volatility in price they offer is much higher than Bitcoin, and when it comes to meme coins especially the ones that are getting deployed on Solana and Ethereum blockchain can be super highly volatile.

I have personally seen new coins getting 10x value within a day but the risk of trading those coins is high because they have low liquidity and most of the times those are just rug pulls and nothing else.

Don't buy altcoins because they are top altcoins

Solana can give you a great lesson on risk of altcoins. In 2021 and 2022 bear market, Solana lost most of its price from ATH and the come back of Solana is very magic and unbelievable. You will hardly be lucky like this with other altcoins, such chance to come back strongly like Solana is very small.

Stable coins are altcoins and they are centralized. Your stable coins can be frozen even in your wallet. Be aware of this big risk.

PSA: Most Stablecoins Can Be Frozen, Even in Your Own Wallets

It is a good choice OP, these coins won't make you feel regretful or disappointed with the outcomes of your investment. If this will not make you rich but definitely your capital will be folded multiple times.
We can't assume that it works all the time, especially when emotions pressure you but I would say that,
Keep it going as you are on the right path. Yeah, if we want to have positive results and profitable investments, then we also have to choose coins that potentially provide our expectations like Bitcoin and any of the top tier coins in the market.

Risk will sometimes get you rewarded, that is why always playing it safe is not the advise every time. In terms of trading, you do not need to take risk that you did not well calculate, trading only well known coins is safe, but are you going to keep with the currently known coins, you may never be as successful as you plan to be from trading. Trading only well known coins is good, but dwelling on them forever all through your trading journey may not be the best approach as a trader. As a trader, I believe you should improve constantly so you can  be in a better position to take good risks of trying other coins.   

You are doing the right approach for a safe trading you should just limit on how much capital you are willing to risk when a certain token is falling since we are currently sitting near the ATH which means there’s a lot of possibility that a free falling on price will be brutal which makes your buy back strategy results to terrible loss in the end.

I suggest you to learn technical analysis to easily spot the support and resistance which you can use as boundaries on your trading to avoid loss but your approach in general is already good if you will not over commit on a certain tokens.

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