Topic: Tips for new bitcoin investors (Read 250 times)
As a novice, your investment amount is 10% to 20% of your income is reasonable. Knowing the knowledge of Bitcoin first, knowledge of trading will help you a lot. I suggest starting with $ 200 first.
lesson 1. dont risk more then you can lose/live without for a long period of time EG imagine you spend $25 a week on fast food.. ($100 a month, $1200 a year)
many people wont care to lose $1200 because in reality that amount just ends up as 52 bowel movements and flushed down the toilet.
so lets use that $1200 figure as a yearly investment
if the price of BTC appears at a healthy all time LOW, its a good time to buy.. NEVER buy when its near a all time HIGH.
next dont have it in mind that you will day trade, and then hold out to only sell when you see 50%+ profit
instead notice the charts and you will see there are healthier less risky 1%(~$80) swings happning more frequently/hourly
take this week.. prices move from $6900-$7700(10%) in just a few hours
so lets say you have $1200 dont throw it all into one order.. risk only 10% per order. (emphasis: dont throw all $1200 into one order)
even if you put in $120 at $6900 and sell for $7600. thats $12 profit
if you done that 3 times a day,($36).. 7 days a week ($252) within 5 weeks you will have $1200 EXTRA, just by playing with one allotment of $120
why is this important.
imagine you bought $120 of bitcoin at $6900.. but then the price went down.. well you have 9 other 'allotments' of $120 to buy at the next cheapest price.
so you leave the first allotment to sell at $7600 and then use another allotment at the new low. then set that at a 10% profit point
or be even more risk adverse
buy $12-$120 of btc and sell even faster at 1-5% variance and repeat more often .. yes it soon all adds up, and your taking less risk because you then have more spare allotments if the price goes down, and your not waiting as long for the price to go up, because your selling at a less higher %
again dont think a one time trade for huge profit. think little and often and it addsl up over the year. the total will end up being more than $2400 returns without having to wait for one order to go to $10k-$14k/btc
EG
$12 with a 1% variance per hour = 24%($2.88 a day from one $12 allotment) or $28.80 profit a day if you have play with $120.. or $288 if you are using all 10 allotments of $120
which over a year.. well
only using 1% of your funds ($12) to make 1% rinse anad repeat profits multiple times a day($2.88) =$1055 profit next year.. from just 1% of funds at 1% per trade.. while not risking all of the rest of your funds
.. there is alot of psychology involved in it. and also controlling your greed by NOT thinking you can make even more buy increasing either how much you put per order line or increase the % before your willing to sell.
many traders if their entire investment is $1200 would never make an order of 0.17btc, and its why you see alot of order lines of 0.0017 or at most 0.017btc (as an example of todays prices and the investment example amount) because many of them small order lines are all one person that split his stash up
in short
1. dont throw $1200 into an order and wait a year hoping to turn $1200 into $2400 by waiting for todays $7k/btc to rise to $14k/btc
2. dont throw $1200 into an order and wait for weeks/months for 50% by waiting for $10k/btc
3. buy $120 of btc and sell for 10% high a couple times a day/week, knowing if the price drops you still have spare cash to buy the new discounts
or if you want to really day trade(multi trade per day)
4. only using 1% of your funds ($12) to make 1% profits rinse and repeat multiple times a day
last lesson. dont forget the trade fee.. if a buy fee is 0.25% and a sell fee is 0.25%.. and you want to do many 1% profit trades(day trading) set your sell price as 1.515% above the price you bought at (as a rough guide) to cover fee costs
edit: while writing this the price moved more than 1% in 10 minutes
many people wont care to lose $1200 because in reality that amount just ends up as 52 bowel movements and flushed down the toilet.
so lets use that $1200 figure as a yearly investment
if the price of BTC appears at a healthy all time LOW, its a good time to buy.. NEVER buy when its near a all time HIGH.
next dont have it in mind that you will day trade, and then hold out to only sell when you see 50%+ profit
instead notice the charts and you will see there are healthier less risky 1%(~$80) swings happning more frequently/hourly
take this week.. prices move from $6900-$7700(10%) in just a few hours
so lets say you have $1200 dont throw it all into one order.. risk only 10% per order. (emphasis: dont throw all $1200 into one order)
even if you put in $120 at $6900 and sell for $7600. thats $12 profit
if you done that 3 times a day,($36).. 7 days a week ($252) within 5 weeks you will have $1200 EXTRA, just by playing with one allotment of $120
why is this important.
imagine you bought $120 of bitcoin at $6900.. but then the price went down.. well you have 9 other 'allotments' of $120 to buy at the next cheapest price.
so you leave the first allotment to sell at $7600 and then use another allotment at the new low. then set that at a 10% profit point
or be even more risk adverse
buy $12-$120 of btc and sell even faster at 1-5% variance and repeat more often .. yes it soon all adds up, and your taking less risk because you then have more spare allotments if the price goes down, and your not waiting as long for the price to go up, because your selling at a less higher %
again dont think a one time trade for huge profit. think little and often and it addsl up over the year. the total will end up being more than $2400 returns without having to wait for one order to go to $10k-$14k/btc
EG
$12 with a 1% variance per hour = 24%($2.88 a day from one $12 allotment) or $28.80 profit a day if you have play with $120.. or $288 if you are using all 10 allotments of $120
which over a year.. well
only using 1% of your funds ($12) to make 1% rinse anad repeat profits multiple times a day($2.88) =$1055 profit next year.. from just 1% of funds at 1% per trade.. while not risking all of the rest of your funds
.. there is alot of psychology involved in it. and also controlling your greed by NOT thinking you can make even more buy increasing either how much you put per order line or increase the % before your willing to sell.
many traders if their entire investment is $1200 would never make an order of 0.17btc, and its why you see alot of order lines of 0.0017 or at most 0.017btc (as an example of todays prices and the investment example amount) because many of them small order lines are all one person that split his stash up
in short
1. dont throw $1200 into an order and wait a year hoping to turn $1200 into $2400 by waiting for todays $7k/btc to rise to $14k/btc
2. dont throw $1200 into an order and wait for weeks/months for 50% by waiting for $10k/btc
3. buy $120 of btc and sell for 10% high a couple times a day/week, knowing if the price drops you still have spare cash to buy the new discounts
or if you want to really day trade(multi trade per day)
4. only using 1% of your funds ($12) to make 1% profits rinse and repeat multiple times a day
last lesson. dont forget the trade fee.. if a buy fee is 0.25% and a sell fee is 0.25%.. and you want to do many 1% profit trades(day trading) set your sell price as 1.515% above the price you bought at (as a rough guide) to cover fee costs
edit: while writing this the price moved more than 1% in 10 minutes
This will bee my go to lesson from now on ! I took my time reading all that and was worth it, very "hands on" approach
if you have a lot of money you better buy 1 bitcoin for the first and with capital 1 purchase bitcoin you can already feel the result when bitcoin price goes up from your purchase.
a good start you suggest to invest in bitcoin. bitcoin the highest price among other altcoins. a chance to make big profits. and it takes time for what you expect to achieve. prepare yourself to deal with market movements that can go up and down at any time.
you feel like there's always more to learn about bitcoin and you hesitate too much to invest. Not that you are willing to lose money now but you just have to start and see how it goes.
Investing on bitcoin is risky activity, gold investment still better than bitcoin but bitcoin's profit is greater than gold.
The greater risk provide better profit so it's equal.
You must ready for lossing and consider profit as the bonus, I'm usually try to convert my salary about 10% for invest on btc and try to hold it as long as possible. I've manage 0.5 profit with three years of investing !
The greater risk provide better profit so it's equal.
You must ready for lossing and consider profit as the bonus, I'm usually try to convert my salary about 10% for invest on btc and try to hold it as long as possible. I've manage 0.5 profit with three years of investing !
Thumbs up for that 10% tip. As for other things in life, I believe is better if we keep steady, that way we can be more rational and track losses. I know that for a business, the rent should be at a maximum of 10% of the revenue, and this works pretty well.
How much money should I start investing, If I am new to this field?
It is up to you how much money you should invest in bitcoin because it depends on your financial capability. Also, it depends whether you want a short term or long term investment. But i suggest you should go for long term investment if you choose bitcoin. I have 3 very important advices for you ... 1- be patient ,2- be even more patient than 1 , 3- be more patient than 2 ... that's it trust me it's all about patience .
So, just for curiosity, do you think the market will rise up for some reason ( in a future perspective ) ? I guess more people willing to buy when they do some new implementations ( lower fees, faster transactions) ? Or by being patient is just not to "lose my mind" and think things will crash down from a sudden?
You need to thoroughly explore this market before participating in it. Capturing the market is a great way to make profit
How much money should I start investing, If I am new to this field?
Learn first the risks once you put money on bitcoin or any cryptos. Since you are new, take time and don't rush things.
Once you understand all the risk associated with these, then you will now know how much money you should put. We have different perspectives and view about the "amount that is willing to lose" since we have different financial status in life. So first, learn the risk then go on actual later on.
Goodluck.
as you can. the price is now cheap I think it's good to invest now but you have to be patient to avoid the panic is bad, invest for a few months I think it's better to be patient is the key to profit 
Investing on bitcoin is risky activity, gold investment still better than bitcoin but bitcoin's profit is greater than gold.
The greater risk provide better profit so it's equal.
You must ready for lossing and consider profit as the bonus, I'm usually try to convert my salary about 10% for invest on btc and try to hold it as long as possible. I've manage 0.5 profit with three years of investing !
The greater risk provide better profit so it's equal.
You must ready for lossing and consider profit as the bonus, I'm usually try to convert my salary about 10% for invest on btc and try to hold it as long as possible. I've manage 0.5 profit with three years of investing !
I am not a great fan of numbers and I never recommend anyone to invest x amount because I believe that it is a subjective term and differs from investor to investor. However, since you are a newbie I would strongly recommend you to investing your time BEFORE investing your money and understand the concept and how the whole system works. Remember, it is not bad to earn speculative gains from Bitcoin or crypto but Bitcoin is a payment system having some more benefits as compared to that of the traditional payment system.
100 $ investment in bitcoin investing is enough. But how can you multiply it?
It all depends on individuals because some guys are ready to take a more riks based on their financial background. People should know these investments are very risky so you should start with the money which you're ready to lose. For some people, it may be $10 and for some people, it may be $1000 or even more.
But how can you multiply it? You also do not have trading on the sale of altcoin can double your bitcoin or more. Investing in bitcoin is too long for you to fit x10 but in altcoin you can see that you just learn the traditional techniques you can get on google or youtube to learn crypto currency trading.
Trading is not so easy just by watching some youtube videos you can multiply your money 10X.
There are many experts itself lost a lot of money in trading so at the beginning start with more stable coins like bitcoin and slowly move to other good altcoins. Money making is not easy but needs to put hard work to earn.
Trading is difficult because you need to learn more than just what you want to buy and make sure that you earn instantaneously with good research and techniques about trading so you earn once you get your emotions at the time of dumping or pumping price so we need LOGIC in Trading.
How much money you can afford to lose and how much money you have to determine your investment!
The novice recommends starting with a small amount of investment, and you need to increase your investment experience!
There is a lot of risk in the digital cryptocurrency market, and you need to be careful!
The novice recommends starting with a small amount of investment, and you need to increase your investment experience!
There is a lot of risk in the digital cryptocurrency market, and you need to be careful!
The best thing to do before you plan to make investment with bitcoin or altcoins is that you should first study and learn the dynamics of cryptocurrency. Don't rush up since you need to build the skills and knowledge which is very important in this field where it involves analysis typically in the market movement trends. Once you had understand fully, then you can start your investment and do frequent monitoring using the site at coinmarketcap for the actual price value per coin.
For beginners who want to invest in Bitcoin should learn first how the circumstances in the market Bitcoin, the price, how much the minimum amount of good to invest, what if lost profit, and in how to profit that will get it can be maximized according to target investors . Maybe like that for beginners if you want to invest.
Investing in bitcoin is not a bad idea, I only recommend that you educate yourself and look for information to detect a good entry, but do not invest only in one thing, try to find other alternatives.
Don't go crazy with buying frenzy just because the price is low, doesn't mean that coin will make your fortune. Then study, Research, read the forum, read an article, read the white paper, find out who is the team members, what is their product, etc etc. Don't listen to other people, trust yourself only.
if you have a lot of money you better buy 1 bitcoin for the first and with capital 1 purchase bitcoin you can already feel the result when bitcoin price goes up from your purchase.
How much money should I start investing, If I am new to this field?
Must better if you make some research first about cryptocurrency specially on bitcoin. Because of its high volatility and unpredictable characteristics, it takes a lot of risk that can be hard for someone to trust with it specially for new investors like you. That's why i'd like to recommend you to just invest an amount that you can afford to lose, to avoid of losing to much money in case of a sudden drop of bitcoins market.
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