Topic: Newbies should invest in bitcoin first before thinking of trading. - page 2. (Read 755 times)

Yes you are right, it is crazy for anyone to think of buying any coin without having proper knowledge on what to buy or how to go about it, we understand that the crypto market has become so popular that a lot of new comers can easily jump into it without having knowledge but this is a bad idea since such person will end badly because losing the investment capital is certain to anyone who's thinking of buying or trading Bitcoin without having knowledge.

To add to what you have said which I think is encouraging to newbies, I will advise them to get proper orientation, good knowledge and learn to learn from a good bitcoin investor or a trader before embarking on any bitcoin investment.

Beginners will always continue to be fooled since they are inexperienced and are easily convinced especially when they are told to invest in a particular coin and their capital will multiply and newbies gets so excited about making quick money and quick profits that's why they are easily convinced and some of this beginner when they come across traders that calls themselves professionals in social media platforms they tend to follow them up and due to luxurious things this so call professional traders do post online a lot of beginners feels that trading is that easy but it is always difficult for a novice to trade because they find it difficult to understand how the market works and the best time to trade.

The best thing that can happen to a newbie now is to invest in Bitcoin because it will give them a rest of mind and not spend time watching the activities of the market, your own will just be to invest a certain amount at different intervals of time that's for someone who have a stable income but for someone who don't have a steady income they can still invest and hodl till they get enough funds to buy more Bitcoins.

In all, there is no way beginners can easily be convinced about not trading because they will always be inquisitive for a quick money but as soon as they record losses on several occasions they begin to find reasons why they should invest in Bitcoin.

The knowledge is the most important thing every newbies have to search for not jumping on thea coin to buy and hold when they don't have have clear understanding about the crypto market. It is good we know what we are doing and that we don't keep making mistakes that others have made too and have shared their worse experience. If we want to survive and make money from the crypto market, we should be ready to keep readying and adopting the character of staying safe as either a trader if crypto investor. There are many newbies that have lost thousands of dollars because they were never patient to learn and adopt a safe pattern of investing in the crypto market.

I think your opinion is a nice one since it is very difficult for a newbie to be knowledgeable in Trading without having adequate knowledge but come to think of it,a newbie isn't even supposed to do both things which is trading and bitcoin investment without gaining proper understanding of the basic principles of  trading and bitcoin investment this is because a newbie who's interested in either long or short term holding can't be successful without gathering sufficient knowledge on when to buy bitcoin to hold and the right time to sell to make profit.

Remember every one is advised to have a back up plan or a strong source of income before and after investing in bitcoin because you can not be guaranteed of making profit after investing in Bitcoin but having good knowledge before investing in Bitcoin and a good trading experience can make you to be profitable as a newbie in trading or as a holder.

You have made reasonable points, yeah newbies coming in to the space should be very careful of the influencer online as they are most times paid to only emphasis on the profits margins and maximization without any show of the risk involvement and unfortunately a lot of people will become victims especially with some projects that are just pump and dump projects. However, with Bitcoin first every newbies will understand the dynamics of the market by accumulating even with only basic knowledge by using the DCA strategy.

If you know that you are new in cryptocurrency especially in Bitcoin what you are supposed to do is to I observe the method of investment of Bitcoin so that when you invest you will probably make a profit in your investment because some people does not make a research to comprehend the risk that is involved for investment of Bitcoin before them venture into it so I think that it is abnormal for not to make a necessary research or inquirement before someone will go into bitcoin investment especially involving in Trading so it is about a concept that you don't know the rudiment of trading and the you venture into it without a clear concept

Yes this is a good suggestion before starting to trade with real money it is important to learn about trading and practice with fake money means with demo trading. Some people might lie about how well they are doing or not have much experience but there are people who trade successfully and earn good living. However trading is risky so it is important to have backup plan. To be good at trading we need to keep learning testing different strategies and adapting to changes in market. It is not easy but with hard work and smart approach we can build stable financial future. Your advice is great and I fully support it.

Well, I’m not actually buying into your both ideas @op and I think you just also take some time off to ponder on the thread but since everyone is entitled to their personal opinion, I wouldn’t have to say you’re wrong but I will have to correct an impression that most persons don’t know people that are successful in trading and personally I know people live comfortably from trading and maybe I might not be very close to know of their regular lives but meh trading if well done is really lucrative.
Persons like me found about reading in quest to make money online and I stumbled on DerivGo and I was able to make over $2k+ within 48 hours but still lost then and that’s a  typical example that a newbie and also make it from trading even when learning and trying to figure things for yourself.

Yep. There is nothing wrong with trading. It is the same as investment, it is also the right way to earn money. Sure, there are still many people who can earn money from trading. As far as we know how to trade properly, it is possible to earn money from trading. So, it is okay if someone has the intention to trade crypto coins.

You're right. We mustn't hurry to start trading because it is not something very easy to do.
Even if we hear that many people can succeed with trading crypto, they must get the success after they experience many challenges and obstacles. They won't be success instantly, they did big efforts and through a long process. They also must have enough knowledge and experience to be successful in trading crypto. So if we are still newbies, it is better to focus on everything we need to be the right trader. Take a serious lesson, get the experience, and prepare our mentality. These are our priority, just focus on improve them! We don't focus too much on dreaming huge profits from trading.

Of course, trading is for everyone! The professional traders also begin their journey from the newbie level. There is no person who becomes a professional trade suddenly. It should be through a long process. If someone never tries trading, how he can be a professional trader? However, for newbies, it is better to focus on learning and gaining experience. So don't use a big amount of money, just use small amount of money!

True, trading is like equilibrium, when one loses, another profits.  Like a trade can't be done alone, and money does not go out of the system unless withdrawn.  I believe in trading an amount lost by an individual is equivalent to the amount gained by another individual so yeah it is an exaggeration when one states that 99% of people are losing in trading.  Possibly 99% had experienced losses but not 99% are losing in trading.


It does not harm to be vigilant.  Even some of the top 10 coins in the market cap may turn scams one day.  So it s best to get updated and knowledgeable about the flows and news of the market.

I wouldn’t advice anyone to trade without first of all trying to learn some theoretical approach to it, practice a strategy with the demo before having to think about going live.

You might have a point when you make the assertion that certain uses just blab with words and don’t have any real world relations or connect with persons paving ways for themselves through trading. It still doesn’t dispute the fact that there are a couple of persons doing just fine. They don’t get to get the big bag but, they do just okay to pay there bills and live a comfortable life. I know a few, although, they aren’t full time on the job.

The chances might be slim and the field is one that comes with high risk but, your having to navigate through these risks, employing different principles, testing strategies and coming out successful is how you build in trading.  Given the chances you’ve got, it’s important you have plan B as you can’t really have all your hopes in a high risk environment like trading.

Actually, you are right but in most of the cases you will that the most new traders are starting their trading with the altcoin and short-term trading. If I say my trading history it is also with the altcoin and also I have faced loss in my first trading. The things you have mentioned it is seems that you are describing my newbie time on this sector.
However, if one more year had not passed for me to fully understand the market of bitcoin and to understand the long-term investment benefit of bitcoin, maybe I could have adopted some bitcoins at a more dip down.

Trading will do more harm than good to newbies who want to go far in Bitcoin because it is a bit complex and require serious technical knowledge and experience to succeed. A newbie does not possible have this knowledge and emotional maturity to handle trading. The best for newbies is to simply buy and HODL Bitcoin, this being an easy thing anybody can do. If in the future he consider venturing into trading, let it be that he has enough capital to pursue it because when a trader knows he has backup capital, it helps with balancing the psychological needs and remove the FOMO and other fears. So, rather than trading, newbies should focus more on building their Bitcoin portfolio first before anything else.

I think the number you give here is very big, it means that in this world there is not a single person who makes a profit from trading, that's a joke!! there are still many who profit from trading and they have had quite a difficult journey to be able to be in their current position so don't exaggerate.


For beginners, it is recommended to learn first about crypto assets that are in the top 10 positions, to avoid scam projects or those that have the potential to rugpull.

Trading is not a wrong path in cryptocurrency, and people are still making money from trading. Just that if you don’t know much about trading and you decide to start trading, maybe because of the things you hear from people about how easy trading is and other things like that, and you decide to start trading, then you will be losing money and will never make money, but if you follow the right path and learn gradually without rushing, then you will be making money from trading.
 
Why I don’t discourage newbies from trading is that even professional traders started as newbies, so if you are a newbie, if you keep on learning and practicing, then you will also be a professional trader in a day. But I completely disagree with you saying trading is bad.

That's not true, it's not only about a few people but anyone who can devote time, effort, and resources can become a successful trader. The very first and most important thing in trading is knowledge. When you gain knowledge, you tend to understand the market very well, and that wouldn't allow you to make wrong trades and invest your money in useless projects having no potential at all.


Is the money newbies use to make investments or start trading given by the person suggesting things? No, right? So if it's their own money, they don't want to lose it, then they need to do their research before investing it in any coin or project so that they can get some profit instead of losing their money.

Knowledge is just everything that no one can't do without in either trading or investing. Knowledge is the first thing every trader or investor must acquire to make profit. Trading and investing deals with money and it is not a good idea for people to think of going into trading and investing without no good knowledge.  The reason why people lose money in trading and have a failed investment is because they get into it without having good knowledge about it thinking they will be able to cope with just trying to make assumptions to get it right. Profit can only be made only through knowledge and no two ways about it.

Why do you think forum members encouraging newbies to trade ran away from trading because of losses? I will say trading is kind of risky, and traders do lose money, but that doesn’t mean they don’t make profit, and I disagree with you that the chances of making money from trading are slim. I am a trader, but I will tell you that I make money from trading, actually I also lose, but when I calculate the amount that I make and the amount that I lose, my profits are always greater than my losses.
 
I don’t encourage newbies to jump into trading, but I do tell them to first learn about trading, they should have knowledge about the basic things that they are supposed to have, and they should start trading with a small amount of money to practice with, and with time, they can increase the amount they are trading with.

It is much of a big deal for a beginner to start his journey in the world of Bitcoin or Crypto currencies as a trader. A lot comes with trading, the risk of losing everything and probably get little return of profit because that is the nature of its involvement, but motives based on investing into Bitcoin is a solid 10/10 decision to make.

Newbies are required to understand that trading even with one's level of knowledge is proportional to the results we get from gambling because they are all based on predictions and may turn out differently from what we outlined. Meanwhile those who invests are completely unbotherd knowing fully well how the system operates and only gets conscious on where they hold their assets because definitely they get to experience good profits from the long run.

Sometimes when it is not risky and scared to try, it won’t be worth the big profit you are going to get in them. They say trading is risky, investment is also risky and anything that is risky are most times profitable. To invest into a coin or go into something term as profitable, you need to first look at the probability part of making profit in them. If it’s risky and you’re able to have sufficient on how to tap on the profitability aspect of it, then it is worth trying and you shouldn’t hesitate not to give it a try. Memecoins historically are coins that are risky and are at low probability of making you rich than the ones that will make you rich.