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Topic: What are the useful tips for beginners? - page 16. (Read 2372 times)

member
Activity: 294
Merit: 36
Nice tips you got there but I think your tips are lacking something. One of the most common mistake a newbie does is to invest in only one coin which in the end leads to loss if that certain coin does not perform well. That being said, you should have had included there this: "diversify your investments. Never invest in one coin only and always remember to not put all your eggs in one basket".

That's right, but if there is one very important factor that a beginner must remember, that is, "Knowledge is power." I say that because it's hard to venture in this market with the attitude of just winging it. All ventures should be done with diligence and care, and that could only be pulled off if you have the right knowledge that you could use as a tool to give you more chances of being successful.
newbie
Activity: 25
Merit: 0
For a beginner I would say start small and watch out for fomo (fear of missing out).

If you look at the market the past 4 months (well, the past 5 years really) prices go up and down. This is a no brainer, but what i mean is, if you really want coin x, but it has already gone x20 and went like 300% the last couple of days, chances are high that it will drop quite hard soon (correction).

Doing research on coin x is also a good idea (if you have trust in a solid business plan and community, a temporary price loss will not affect you as much).

So time your entries well and remember that in the current market prices will fluctuate and this market in my opinion will stay like this for a while.

Time your entries!
full member
Activity: 303
Merit: 100
Good compilations of tips for beginners especially giving book suggestions that aspect is new. Usually it is the same old stuff, good to see you spicing it up a bit.
full member
Activity: 392
Merit: 101
Nice tips bro for me as a newbie in trading and also for others that they want to start in trading hope that many people sharing their ideas like you god bless
full member
Activity: 868
Merit: 116
First of all, study the theory in this forum. There is a lot of useful information, look through and ask questions in the topics you are interested in, be active in this forum and you will receive knowledge, a matter of time.
Well, It is certain that in this forum there are many useful information in different fields especially in trading crypto  ,  but regrettably, many do not want to search for the basics of trading  and that's because of laziness in the majority of them, they want everything in an easy way ( easy profit ... ), But that has bad consequences for the traders ( financial losses ). 
In addition to that, I think the most essential thing is how to learn trading well and   moving away from  opinions of the others  (especially when you have a good knowledge in this feld) , there is no one in your place and trust me , many of  them are professional.
jr. member
Activity: 420
Merit: 1
First of all, study the theory in this forum. There is a lot of useful information, look through and ask questions in the topics you are interested in, be active in this forum and you will receive knowledge, a matter of time.
full member
Activity: 896
Merit: 198
Nice tips you got there but I think your tips are lacking something. One of the most common mistake a newbie does is to invest in only one coin which in the end leads to loss if that certain coin does not perform well. That being said, you should have had included there this: "diversify your investments. Never invest in one coin only and always remember to not put all your eggs in one basket".

How if the money of a newbie are small and it's for only in one coin,  how they can split in to different  cryptos?  Lol
By the way that's right if you decide to invest in crypto the better way to gain more profits  are spread your money in difference coin just in case and it's a great  tips in a lot of members in forum and most of them in newbies.
legendary
Activity: 3654
Merit: 1165
www.Crypto.Games: Multiple coins, multiple games
Nice tips, but now i'm in first one main tip for newbies - better don't invest in the ICO. Many scammers in the industry ICO now.
Yes, it is a good tip for investors but not mainly for traders. ICO may be a huge risk, but that does not mean you can stay away but instead find a way to play safe by doing proper diligence before investing into any market. The reason why some people always end up victim of scammers is just because they look at the physical appearance and not the inner one like the team, availability of product and so on.

Still, in trading there is a lot of risk as well, and this is the reason why you still need great knowledge to be able to do it well as well, while including something’s to build up your skills in making good decisions too.
brand new
Activity: 0
Merit: 0
Thanks for your sharing. However, I don't think we should be far away from social media, cuz this industry is easily impacted & manipulated by information. Sometimes, following the signals from news/rumor, you can get profit. It is not 100%, but I think we should be flexible.

legendary
Activity: 2982
Merit: 1028
Great help to open wide your understanding regarding to this business, better to take some time to read and analyze if how we can take advantage of this investment, trading is not a game but a business which accompanied by risk, if we are fully equipped before we enter this industry, then we have a better
chances to survive, thanks OP for providing those books just some addition to that, better also to start dealing with it while we are in the process of learning, as many traders said experience is the best teacher from system like this.
legendary
Activity: 1554
Merit: 1054
Nice tips you got there but I think your tips are lacking something. One of the most common mistake a newbie does is to invest in only one coin which in the end leads to loss if that certain coin does not perform well. That being said, you should have had included there this: "diversify your investments. Never invest in one coin only and always remember to not put all your eggs in one basket".
Yeah, that is more like diversifying the risk and spreading them across different pairs. It is a great tip for beginners though and those books are some pretty good ones for every beginner to make good use of to be able to build themselves in the journey they are trying to embark on. Trading is not a small stuff, as it is amore of a profession and the need to do it right is always necessary due to the risk involved as well.

I just wanted to add that experience is very helpful as well. If you do not have any experience in trading I will suggest that before using your real money for trading you try to feel trading by using a demo account. If you are in a rush to trade then do not put in a lot of money. Once you are comfortable then start putting a big money. 
It is a good tip and with that at least a wannabe trader can know what to expect in trading before even starting. Problem is that a lot of people do not like reading and they are always looking for the easiest way out most of the time when it comes to trading, but one thing everyone should always understand is that trading requires great effort and you do not want to be caught up making wrong decisions every time or getting emotionally involved.
full member
Activity: 560
Merit: 100
BBOD Zero-Fee Exchange
great tips and very useful for beginners. knowing and reading many references about crypto is the most important and after that if you want to play trade know candle analysis is very important and your mental must be strong not to be a panicked person. because it's bad
sr. member
Activity: 644
Merit: 263
Wow those books! Lolz.. I never read any book about the crypto currency trading and neither I am expert in it but I do make money out of the crypto currencies. From my experience I have learnt that there is only one way to be good traders, and thats keeping patience, and choosing the right coin to invest. If you have that one in your mind then you can always make nice fortune. Reading books and stuff can confuse people in the long run as in the reality things can change adversely. So its not just about the books but also personal experience and at what you ended up while trading. You should learn from your mistakes and try to go beyond the line if needed. But nice work by posting those name if someone really like reading here.
full member
Activity: 504
Merit: 105
Nice tips, but now i'm in first one main tip for newbies - better don't invest in the ICO. Many scammers in the industry ICO now.
Yes i agree with you mostly ico are scam but there's ico are legit to invest and participate on there bounty program always research for the best one i recommend to search ico on icomark.com there so many legit ico and choose the best ratings.
legendary
Activity: 1414
Merit: 1001
What I will be very careful in giving tips to a beginner is they must have a very high fighting spirit. never give up and continue to learn to do analysis. With good analysis then a trader will be able to make good decisions. Indeed a trader must have a good experience so that when we fail then we must continue to try it. With a variety of experiments then the skills we will have will increase and we are on the path of success in life that we have.
member
Activity: 490
Merit: 17
Nice and powerful tips from a professional trader! I think if you can read those books and implement the trading strategies and recommendations in those books you will became a professional traders in no time. You should no that you are the boss of your trading position and never allow any one to tell you what to do.
member
Activity: 630
Merit: 20
These are the only basic steps for the beginners and newbies in trading. I appreciate your post, we all came from a scratch and this may help beginners a lot. Read, study, research. We have to accept the fact that we started gaining information by just reading. Patience is also basic to say but very hard to implement. Lol. When our emotions are active, we sometimes forget the word patience. That is why self control and managing emotions are important things to work on in trading.

If I may just add up some advice to a starter in this field of trading, just do it when you can afford the money to lose. We may win or lose, but what's significant is that we may afford that amount to be lose.
newbie
Activity: 154
Merit: 0
Don"t panic,keep patience and hodl.
Timing is everything in crypto market,even a split second delay will cause huge loss.
Market crashes due to fear,uncertainty and doubt.
Buy during the blood bath and sell during the high.
newbie
Activity: 280
Merit: 0
Thank you for this useful tips, you forgot something, traders must master the three types of market analysis, how does analysis help you? it helps you predict the future price of that certain market.
newbie
Activity: 266
Merit: 0
Nice tips bro this is very useful for the beginners like me in this kind of industry .
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