There are a lot of research and suggestions on how to manage your Crypto out there. One of the best things that you can do is Do Your Own Research. If something doesn't feel comfortable or right, don't do it. Always always always make sure to form your own opinions and never blindly follow "experts".
When trading, my biggest tip would be to keep emotions out of it. Never buy or sell anything out of panic or fear of missing out. Buy and sell at target price points that you set up, and set up a stop loss at the maximum amount you are comfortable losing. Then stick to that plan.
HODL on my friend.
Topic: Need Some Crypto Sense (Read 162 times)
Read and learn, be patient and humble.
Some fonts of knowledge:
- Bitcoin wiki: you will find in there many useful information, and even son books and stuff to download: https://en.bitcoin.it/wiki/Main_Page
- Andrea's Antonopoulos "Mastering Bitcoin" book, a very useful and understandable resource: https://en.bitcoin.it/wiki/Mastering_Bitcoin
- There are many many useful posts in here with, for sure, will help you a lot. Just explore the forum, and never forget to read the rules.
- A place with capitalization to see the different crypto coin value: https://coinmarketcap.com/
- A website with news related to crypto: https://www.coindesk.com/
There are, also, many YouTube videos, even few interviews to Antonopoulos, which I strongly recommend for you to see.
Another user left you some rules before. Take them as a good advice, but also as an opinion (I disagree with many). Try to learn enough and to build your own opinion before investing.
Some fonts of knowledge:
- Bitcoin wiki: you will find in there many useful information, and even son books and stuff to download: https://en.bitcoin.it/wiki/Main_Page
- Andrea's Antonopoulos "Mastering Bitcoin" book, a very useful and understandable resource: https://en.bitcoin.it/wiki/Mastering_Bitcoin
- There are many many useful posts in here with, for sure, will help you a lot. Just explore the forum, and never forget to read the rules.
- A place with capitalization to see the different crypto coin value: https://coinmarketcap.com/
- A website with news related to crypto: https://www.coindesk.com/
There are, also, many YouTube videos, even few interviews to Antonopoulos, which I strongly recommend for you to see.
Another user left you some rules before. Take them as a good advice, but also as an opinion (I disagree with many). Try to learn enough and to build your own opinion before investing.
You do have to pay 30% taxes on the profits you earn through Cryptos. Do you want to continue ?? and Bitcoin is behaving like a super-HYIP
What are you talking about?New in here. Trying to gather info of crypto knowledge .
Need some help from the seniors
At what exactly you want to start?Need some help from the seniors
If you want it with wallets ---> https://bitcointalksearch.org/topic/general-bitcoin-wallets-which-what-why-1631151
Understand that this is a crazy volatile market and you will get eaten alive if you trade out of fear or greed. Most of my expertise comes from trading, but I'll list some things in a general sense that I think will help:
1- Never ever EVER buy something in parabolic runups. This is a big no-no in any trading market but is especially important to noobs. Things start going parabolic right as they break down, and should be avoided. If you are buying on fear of missing out, this is already a mistake and you should not do it.
2- Never buy and sell crypto all at one price or position. I often times play the top and bottom of trades, so I'm in a position to play all sorts of scenarios and cost average my losses if things go south.
3- You should always have bitcoin and ethereum ALWAYS because you just never know what will happen. There are 3 faces in this market and altcoins are only in position for considerable gains about 1 out of every 3 times.. otherwise your portfolio is at much risk and you could get stuck out of position for months if you are all in alt coins. The main drive of alt coins for most people is for quick cash flips or multiplying bitcoin... staying all in alts all the time (unless from ICO or slightly after prices) will make you miss considerable gains. This is a very common trading mistake by new people.
4- Technical Analysis can help you min/max your results but common sense will take you much further.. buy things when they are down or just starting out.. sell things when they are on the rise and you are in profit. This seems sort of obvious but you'd be amazed at how many people don't follow this. Use technical analysis to judge how low you think the coin will drop or high you think it could go.. this only helps you improve your common sense strategy and will only add maybe 10-15% to your results (I'm not even kidding, 85-90% of your results will come from common sense).
5- Hodling is not enough.. You can't just buy any ole tokens at whatever price and expect to hodl it forever to become rich. We are still early on in this market but over 90% of these will likely fail. Again, you have to know what you are purchasing, how it works, and analyze the right opportunity to buy it.
6- More money in this space actually makes it less stressful not more. I remember when I started a few years ago with about a thousand dollars... I was freaking out and overtrading.. as my portfolio grew I felt more comfortable with making sound decisions, quit worrying about minmaxing so much, which led to correcting my overtrading problem. Trading with small amounts can be stressful, and is common if this describes you and you are feeling it.
7- Make long term goals. What are you looking to get out of this market? What is your exit strategy? What will you need to survive and when? Consistent strategies in this market work best, and give you clearly defined goals and measurable data for how its going (if you're often doing the same thing you can easier identify problems or things that are absolutely going right).
8- Have fun while trading and learning.... if this is something you want to do long term.. make sure to keep it fun.. and lower your stress around it.. As you become better, don't stare at charts all day.. set alerts on mobile apps and go out and enjoy life. You'll do better at things you love, so set up an environment where you aren't committing self-sabotage.
Good luck!
1- Never ever EVER buy something in parabolic runups. This is a big no-no in any trading market but is especially important to noobs. Things start going parabolic right as they break down, and should be avoided. If you are buying on fear of missing out, this is already a mistake and you should not do it.
2- Never buy and sell crypto all at one price or position. I often times play the top and bottom of trades, so I'm in a position to play all sorts of scenarios and cost average my losses if things go south.
3- You should always have bitcoin and ethereum ALWAYS because you just never know what will happen. There are 3 faces in this market and altcoins are only in position for considerable gains about 1 out of every 3 times.. otherwise your portfolio is at much risk and you could get stuck out of position for months if you are all in alt coins. The main drive of alt coins for most people is for quick cash flips or multiplying bitcoin... staying all in alts all the time (unless from ICO or slightly after prices) will make you miss considerable gains. This is a very common trading mistake by new people.
4- Technical Analysis can help you min/max your results but common sense will take you much further.. buy things when they are down or just starting out.. sell things when they are on the rise and you are in profit. This seems sort of obvious but you'd be amazed at how many people don't follow this. Use technical analysis to judge how low you think the coin will drop or high you think it could go.. this only helps you improve your common sense strategy and will only add maybe 10-15% to your results (I'm not even kidding, 85-90% of your results will come from common sense).
5- Hodling is not enough.. You can't just buy any ole tokens at whatever price and expect to hodl it forever to become rich. We are still early on in this market but over 90% of these will likely fail. Again, you have to know what you are purchasing, how it works, and analyze the right opportunity to buy it.
6- More money in this space actually makes it less stressful not more. I remember when I started a few years ago with about a thousand dollars... I was freaking out and overtrading.. as my portfolio grew I felt more comfortable with making sound decisions, quit worrying about minmaxing so much, which led to correcting my overtrading problem. Trading with small amounts can be stressful, and is common if this describes you and you are feeling it.
7- Make long term goals. What are you looking to get out of this market? What is your exit strategy? What will you need to survive and when? Consistent strategies in this market work best, and give you clearly defined goals and measurable data for how its going (if you're often doing the same thing you can easier identify problems or things that are absolutely going right).
8- Have fun while trading and learning.... if this is something you want to do long term.. make sure to keep it fun.. and lower your stress around it.. As you become better, don't stare at charts all day.. set alerts on mobile apps and go out and enjoy life. You'll do better at things you love, so set up an environment where you aren't committing self-sabotage.
Good luck!
New in here. Trying to gather info of crypto knowledge .
Need some help from the seniors
What specifically would you want to learn about crypto? The tech behind it? Trading? Or Bitcoin in general? If you only want to learn about the tech behind Bitcoin, go to development and technical discussion section. If you want to learn about trading, then go to Trading Discussion. If it is Bitcoin in general, go to Bitcoin Discussion, and read some threads in other sections to learn knowledge about crypto. Need some help from the seniors
there are many things that must learned by all beginner when you join this forum, you should follow the rules of the forum, and here there is a lot of knowledge you can get, such as knowledge about trade, mining, investment, bounty, and even about strategies for getting benefits.
Avoid coins and tokens that offer "guaranteed returns" you don't want to be a part of a ponzi or pyramid scheme. Also don't FOMO when coins rise up a lot, let those go and focus on coins that haven't risen as hot.
You do have to pay 30% taxes on the profits you earn through Cryptos. Do you want to continue ?? and Bitcoin is behaving like a super-HYIP
New in here. Trying to gather info of crypto knowledge .
Need some help from the seniors
Need some help from the seniors
Jump to: