Another thing I would like to say, especially to newbies is to stop buying new coins. Yep, new coins can be very disappointing, most especially when they are not coming from a company that is well known. Take for example, coins like Facebook libra might be worth investing since the company is already popular and if it's a coin that is not stable you will be sure of it growing to a high price for sure.
But if it's all these coins that are popping out from nowhere, they shouldn't be where your money is going to because they are going to eat you up. There are still people that will tell you it's best to invest in cheap new coins, but the choice is up to you and experience is always the best teacher.
Topic: Very important tips in digital currency trading (Read 875 times)
Good tips! Newbies need to know this things in order to help themselves make informed choices. I have seen them ask a lot of questions here on how to be good cryptocurrency traders. I think your tips would be helpful to them
These are some nice and very basic tips and of course they will help the newbies understand a lot and will assist them to go step by step. Normally you can blindly invest in the best coins like Bitcoin that has been making news of crazy gains as well but this is not true about any other coin. But yeah, researching about the assets you are interested in can help you make good investment decision.
You give pretty good tips, it's good to add a way to read graphing or market analysis, so that beginners know the right time to enter the market. and added a time when traders had to out from the market.
It was great, I had a lot of failures because of the above reasons. When I was a new trader, I was often led by greed and always invested according to others. I just followed the instructions of the whales and it seemed that I was completely blind about my portfolio.
That's why I have very little profit but a lot of losses.
To become a good trader and manage your finances, we need to learn and read more.
That's why I have very little profit but a lot of losses.
To become a good trader and manage your finances, we need to learn and read more.
Good tips! Newbies need to know this things in order to help themselves make informed choices. I have seen them ask a lot of questions here on how to be good cryptocurrency traders. I think your tips would be helpful to them
Very well spoken. The challenge with newbies is that they see it as get rich quick scheme. Yes you can get the money quickly but it's at a level of professionalism which takes studying and research to get to. You need those tips for effective and efficient investing and how to safeguard your funds and investment. Never leave your funds on exchanges.
These are some important tips in the area of currency trading
I hope you benefit beginners in this area
First: Do not invest in any currency before studying it thoroughly and searching for it in depth
Second: you should always buy at the lowest possible price try to buy the currency when it decreases
To the lowest levels and avoid buying on the rise or when it is at the top of the rise
They may go down at any moment and dramatically
Third: Avoid panic when the currency devaluation and do not rush to sell it because it may return
To rise again you must be very patient during trading
Fourth: Do not buy one currency with all the head of the owner, this is very dangerous, which fall
The currency will result in your loss of everything you own or a large percentage of your money
Fifth: Do not rely on a single trading platform and put all your money, but must
To rely on a range of platforms known worldwide
The points you mentioned above I think can represent many parties to be used as lessons before trading. now in my opinion the most important thing is to learn coins before trading. that's the most important thing and can make trading better I hope you benefit beginners in this area
First: Do not invest in any currency before studying it thoroughly and searching for it in depth
Second: you should always buy at the lowest possible price try to buy the currency when it decreases
To the lowest levels and avoid buying on the rise or when it is at the top of the rise
They may go down at any moment and dramatically
Third: Avoid panic when the currency devaluation and do not rush to sell it because it may return
To rise again you must be very patient during trading
Fourth: Do not buy one currency with all the head of the owner, this is very dangerous, which fall
The currency will result in your loss of everything you own or a large percentage of your money
Fifth: Do not rely on a single trading platform and put all your money, but must
To rely on a range of platforms known worldwide
Good tips! Newbies need to know this things in order to help themselves make informed choices. I have seen them ask a lot of questions here on how to be good cryptocurrency traders. I think your tips would be helpful to them
I don't make these mistakes except the third one. The last thing I ever do is buy any coin that I know nothing about. Before I buy a coin I will do my best to study everything about it before I decide its the right time to invest in it. And I am not the type of person that invest in just one coin, I invest in various coins and I also don't trade on one platform or make use of one wallet, I make use of two of the best wallets and I also make use of two of the best exchanges, cause I don't really trust anyone that much, but I make sure that anyone I choose is very secured.
It is very easy to make all of these mistakes when a person is following the hype. Unfortunately, mass media shares with us fake information about the "next cool gainer". Many people believe it, and buy tokens that turn to be shitcoins.
Question to the author about the second point: how can a novice find out what exactly is the minimum price now and is it time to buy? How he will understand that the coin will not be even cheaper? The most valuable advice is to learn the techniques of traders.
I think traders can see that coin is not cheap from the total supply coin that exists and the effect of the very high demand will make coin prices remain expensive like the price of bitcoin.
just want to add something , if you mind to save some digital assets in longterm , dont put it on exchange , put in on something like blokchain etc
Question to the author about the second point: how can a novice find out what exactly is the minimum price now and is it time to buy? How he will understand that the coin will not be even cheaper? The most valuable advice is to learn the techniques of traders.
I think traders can see that coin is not cheap from the total supply coin that exists and the effect of the very high demand will make coin prices remain expensive like the price of bitcoin. Do not rely on a single trading platform and put all your money, but must
To rely on a range of platforms known worldwide
I don't think we have to use different trading platforms it will make the status of trades to be worse better choose the best of all and stick with it.To rely on a range of platforms known worldwide
With you all other point agreed.
I used to have accounts in different exchanges trying to arbitrage of course (naive me). But then I found out that I spent a lot of time and effort logging in, recovering passwords and dealing with security notifications including news about all new alts listed on all these exchanges. I became a self support specialist for all these exchanges. And also keeping records of all the money you have at 5+ exchanges is pain in the ass. You just dont have time for trading with all this staff kept updated. Last but not least, when you search for a good trade you need to include all the exchanges you have money at in the scanner. So I ended up with Binance for alts, Bitfinex for grands, Bitmex for gambling
Here is two tips from my personal experience. Do not trade with leverage untill you are a stable trader without it. Never. You'll lose your head, calm and cryptos.
Do not trade at short timeframes such as 5 minutes or 15 minutes. This is the best way to get stressed and lose everything. Its like pornohub, once you begin watching you cant stop untill, well you no, go to zero at your account.
Do not trade at short timeframes such as 5 minutes or 15 minutes. This is the best way to get stressed and lose everything. Its like pornohub, once you begin watching you cant stop untill, well you no, go to zero at your account.
Question to the author about the second point: how can a novice find out what exactly is the minimum price now and is it time to buy? How he will understand that the coin will not be even cheaper? The most valuable advice is to learn the techniques of traders.
I think traders can see that coin is not cheap from the total supply coin that exists and the effect of the very high demand will make coin prices remain expensive like the price of bitcoin.
These are some important tips in the area of currency trading
I hope you benefit beginners in this area
First: Do not invest in any currency before studying it thoroughly and searching for it in depth
Second: you should always buy at the lowest possible price try to buy the currency when it decreases
To the lowest levels and avoid buying on the rise or when it is at the top of the rise
They may go down at any moment and dramatically
Third: Avoid panic when the currency devaluation and do not rush to sell it because it may return
To rise again you must be very patient during trading
Fourth: Do not buy one currency with all the head of the owner, this is very dangerous, which fall
The currency will result in your loss of everything you own or a large percentage of your money
Fifth: Do not rely on a single trading platform and put all your money, but must
To rely on a range of platforms known worldwide
the tips you mentioned above might help traders to better trade digital currencies. now there are still many traders who cannot master the crypto currency and finally when the low price will be hit by a dump, and that might make a loss. I hope you benefit beginners in this area
First: Do not invest in any currency before studying it thoroughly and searching for it in depth
Second: you should always buy at the lowest possible price try to buy the currency when it decreases
To the lowest levels and avoid buying on the rise or when it is at the top of the rise
They may go down at any moment and dramatically
Third: Avoid panic when the currency devaluation and do not rush to sell it because it may return
To rise again you must be very patient during trading
Fourth: Do not buy one currency with all the head of the owner, this is very dangerous, which fall
The currency will result in your loss of everything you own or a large percentage of your money
Fifth: Do not rely on a single trading platform and put all your money, but must
To rely on a range of platforms known worldwide
Question to the author about the second point: how can a novice find out what exactly is the minimum price now and is it time to buy? How he will understand that the coin will not be even cheaper? The most valuable advice is to learn the techniques of traders.
I think traders can see that coin is not cheap from the total supply coin that exists and the effect of the very high demand will make coin prices remain expensive like the price of bitcoin.
Question to the author about the second point: how can a novice find out what exactly is the minimum price now and is it time to buy? How he will understand that the coin will not be even cheaper? The most valuable advice is to learn the techniques of traders.
It's difficult to invest on crypto especially when the value always change constantly.
If you learn about theory, you will get nothing ( experience ) but if you also learning by doing , it's much better although sometimes you need some sacrifice on your capital
If you learn about theory, you will get nothing ( experience ) but if you also learning by doing , it's much better although sometimes you need some sacrifice on your capital
Second: you should always buy at the lowest possible price try to buy the currency when it decreases
To the lowest levels and avoid buying on the rise or when it is at the top of the rise
They may go down at any moment and dramatically
So far I have understood all the tips that you have provided and I thank you for reminding them. But there is one thing that I don't understand, which is how to determine the lowest point of a coin price? Maybe a lot of people here have the same problem as me, maybe you can share those tips with me.
I don't make these mistakes except the third one. The last thing I ever do is buy any coin that I know nothing about. Before I buy a coin I will do my best to study everything about it before I decide its the right time to invest in it. And I am not the type of person that invest in just one coin, I invest in various coins and I also don't trade on one platform or make use of one wallet, I make use of two of the best wallets and I also make use of two of the best exchanges, cause I don't really trust anyone that much, but I make sure that anyone I choose is very secured.
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