Do not invest in anything you do not understand how it works. If you don't know the system and the way it works, don't invest in it, same principle with coins, do not investing in a coin just because you saw in bunch of places that it will "skyrocket to moon". People here who hold coins keep promiting that coin so it can go up and they can eventually sell it. Same goes with going down, people who miss out on some coins going up, keep saying it will go down because they missed out on it and jelaous of people who did not.
Cryptocurrency is so unpredictable but with a proper mind you can't be fooled by some price or hype, although in some you can ride on it and make money it depends on your skill capacity. The very useful tip that will help anyone is to buy in cheap price but a quality project and wait for it to skyrocket. 
Topic: What are the useful tips for beginners? - page 2. (Read 2350 times)
Profit on the crypto market created only for those who have the patience and know how to analyze, if hurry hurry you will fail early. That is my opinion and personal opinion.
I would have to all the things that are already saying here to not to go and do things that you are not familiar with because there are many Predators who are just sitting there and waiting for somebody like you to decieve and steal.
It is not bad to learn and give many suggestions for those who do not have experience. We should open up.When i was a newbie i always reading about crypto here in forum and sometimes i always research by myself. There is also have a youtube that you can watch about the trading or what ever you wanna do.
Do not invest in anything you do not understand how it works. If you don't know the system and the way it works, don't invest in it, same principle with coins, do not investing in a coin just because you saw in bunch of places that it will "skyrocket to moon". People here who hold coins keep promiting that coin so it can go up and they can eventually sell it. Same goes with going down, people who miss out on some coins going up, keep saying it will go down because they missed out on it and jelaous of people who did not.
if you are a beginner you have to learn what is crypto and you should know the market situation and most importantly you should see the potential of the coins you buy and be patient in selling.
The newbie can go to YouTube and find there the coolest channels devoted to the cryptocurrency. Check this one: https://www.youtube.com/channel/UCR9gdpWisRwnk_k23GsHfcA
I think tips for beginners is always emotional control and do not be afraid or panic will decrease the price, must have a very high fighting spirit. never give up and continue to learn to do analysis and strategy. By learning about good analysis then a trader will be able to make good decisions. when you experience failure, always remember that failure is the first step to success. And do not be bored to find friends who can be trusted and often ask traders who have long wrestle the world of crypto. and always pray that luck is always within you. because I think luck is the success factor of the traders. maybe with all it will make the beginner can be a good trader and successful.
A few more.....
1. Always take some profits as the price rises, especially if an important news event/announcement is close to being made e.g hard fork.
2. Never buy after a large rise takes place - Usually the Whale traders (the people who cause 90% of the major rises) will take some profits off their trades after a big rise occurs (as the rise causes their profit to increase substantially). To take profits they have to sell some of what they bought, so when they do that it naturally causes the price to fall. Which means if you enter a trade after a big rise takes place you won't be entering at a favorable price (because the price will high likely to fall). It's much better to wait for it to fall and then enter.
3. Start off small - If you're new to trading start off by only buying small amounts of Crypto. Only increase size AFTER you've gained experience/become profitable trading at your current size.
4. Watch for reversals near the points where previous reversals have taken place - Usually the price will reverse i.e stop falling start rising/start rising stop falling near the points where it stopped falling started rising etc in the past (this is obvious if you look at a chart). So if you see the price reach a point where it's reversed in the past, get ready, because it might reverse again.
1. Always take some profits as the price rises, especially if an important news event/announcement is close to being made e.g hard fork.
2. Never buy after a large rise takes place - Usually the Whale traders (the people who cause 90% of the major rises) will take some profits off their trades after a big rise occurs (as the rise causes their profit to increase substantially). To take profits they have to sell some of what they bought, so when they do that it naturally causes the price to fall. Which means if you enter a trade after a big rise takes place you won't be entering at a favorable price (because the price will high likely to fall). It's much better to wait for it to fall and then enter.
3. Start off small - If you're new to trading start off by only buying small amounts of Crypto. Only increase size AFTER you've gained experience/become profitable trading at your current size.
4. Watch for reversals near the points where previous reversals have taken place - Usually the price will reverse i.e stop falling start rising/start rising stop falling near the points where it stopped falling started rising etc in the past (this is obvious if you look at a chart). So if you see the price reach a point where it's reversed in the past, get ready, because it might reverse again.
As a former Forex trader, I would say these rules are a must:
1. Don't trade with money you can't afford to lose.
2. Always use a stop loss.
3. Never hold a losing position open i.e if a trade goes significantly underwater don't continue holding, just close and move on.
4. Never average down - this means if a trade goes bad (like above) don't keep buying as the price falls in the hope that it will eventually rise back up and allow you to escape with a small loss or tiny profit. 9 times out of 10 this WON'T happen, and all you'll do is blow your account.
5. Don't trade without a strategy - a trading strategy is a set of instructions that tell you when to buy, sell, place a stop loss etc. A strategy can be something simple like "buy when the MA crosses the price" or "after a 2.5% drop buy X amount of coin". If you don't have a strategy, DON'T TRADE. Trading without a strategy, however simple, is not trading, it's GAMBLING. Don't do it. (PM me if you need a strategy).
6. Don't revenge trade i.e when you lose money don't place trades to try to make back what you lost. Go and do something else to clear your head and then come back later.
1. Don't trade with money you can't afford to lose.
2. Always use a stop loss.
3. Never hold a losing position open i.e if a trade goes significantly underwater don't continue holding, just close and move on.
4. Never average down - this means if a trade goes bad (like above) don't keep buying as the price falls in the hope that it will eventually rise back up and allow you to escape with a small loss or tiny profit. 9 times out of 10 this WON'T happen, and all you'll do is blow your account.
5. Don't trade without a strategy - a trading strategy is a set of instructions that tell you when to buy, sell, place a stop loss etc. A strategy can be something simple like "buy when the MA crosses the price" or "after a 2.5% drop buy X amount of coin". If you don't have a strategy, DON'T TRADE. Trading without a strategy, however simple, is not trading, it's GAMBLING. Don't do it. (PM me if you need a strategy).
6. Don't revenge trade i.e when you lose money don't place trades to try to make back what you lost. Go and do something else to clear your head and then come back later.
Hello guys and gals , it is certain that the field of trading is very profitable, but regrettably, I have seen many beginners start in this area without any knowledge of the basics. In fact, this class always fails and lose a lot of money because of their hastiness or rashness.
So, according to my experience, I want to give some useful tips, and hope they will help everyone, and will be as the following :
1- Read and learn the basics of trading:
-I think the best way to start understanding this field is by reading books related to digital currencies, but unfortunately, the issue that many people read only the first pages of the book, then they stop.
"The more that you read the more things you will know, the more that you learn, the more places you'll go "
-Dr. Seuss
I suggest some books, and they will be as the following :
Cryptocurrency: Beginners Bible:
Mastering Bitcoin for Dummies:
Cryptocurrency Trading & Investing
-Learn how to analyze and deal with different situations ( pump, dump ..) in a smart way. Plus, try to help yourself with yourself, Do not complain and ask for help from the others, because no one is in your place. And even if you fail in the first attempts and lose a lot of money, then It is not the end of the world.
Believe me, learning from failed experiences will help you in order to improve your next choices, and you may start to gain a significant proportion of money.
2-Stay away from media news:
Media are always manipulating traders through some false news and even the social media (Twitter, Facebook..), They may even control what happens in the market (crisis, jump), in order to achieve the interests of some (the capitalists) and regrettably, many believe the information and fake predictions.
" Do not be a sheep and act like a wolf "
3- Be patience and try to be brave , not afraid:
The field of trading is profitable when you are patient and not hasty like many, and of course you must take advantage of the opportunities intelligently.
Fear is one of the most important obstacles that lead to losses, especially in difficult situations (big crash), like, panic selling...
IMO, Courage is by taking the risk, especially when there is an unexpected event (Big drop).
"Big risk, Big gain."
Cheers,
So, according to my experience, I want to give some useful tips, and hope they will help everyone, and will be as the following :
1- Read and learn the basics of trading:
-I think the best way to start understanding this field is by reading books related to digital currencies, but unfortunately, the issue that many people read only the first pages of the book, then they stop.
"The more that you read the more things you will know, the more that you learn, the more places you'll go "
-Dr. Seuss
I suggest some books, and they will be as the following :
Cryptocurrency: Beginners Bible:
Mastering Bitcoin for Dummies:
Cryptocurrency Trading & Investing
-Learn how to analyze and deal with different situations ( pump, dump ..) in a smart way. Plus, try to help yourself with yourself, Do not complain and ask for help from the others, because no one is in your place. And even if you fail in the first attempts and lose a lot of money, then It is not the end of the world.
Believe me, learning from failed experiences will help you in order to improve your next choices, and you may start to gain a significant proportion of money.
2-Stay away from media news:
Media are always manipulating traders through some false news and even the social media (Twitter, Facebook..), They may even control what happens in the market (crisis, jump), in order to achieve the interests of some (the capitalists) and regrettably, many believe the information and fake predictions.
" Do not be a sheep and act like a wolf "
3- Be patience and try to be brave , not afraid:
The field of trading is profitable when you are patient and not hasty like many, and of course you must take advantage of the opportunities intelligently.
Fear is one of the most important obstacles that lead to losses, especially in difficult situations (big crash), like, panic selling...
IMO, Courage is by taking the risk, especially when there is an unexpected event (Big drop).
"Big risk, Big gain."
Cheers,
These tips are too useful for us to succeed here in cypto world. There might be no shortcut to success but if we are eager enough to follow these rules and strategies, we would be able to learn a lot of things and succeed in this field. I am thankful that I was able to use this tips before.
I would have to all the things that are already saying here to not to go and do things that you are not familiar with because there are many Predators who are just sitting there and waiting for somebody like you to decieve and steal.
It is not bad to learn and give many suggestions for those who do not have experience. We should open up.
I would have to all the things that are already saying here to not to go and do things that you are not familiar with because there are many Predators who are just sitting there and waiting for somebody like you to decieve and steal.
Hello guys and gals , it is certain that the field of trading is very profitable, but regrettably, I have seen many beginners start in this area without any knowledge of the basics. In fact, this class always fails and lose a lot of money because of their hastiness or rashness.
So, according to my experience, I want to give some useful tips, and hope they will help everyone, and will be as the following :
1- Read and learn the basics of trading:
-I think the best way to start understanding this field is by reading books related to digital currencies, but unfortunately, the issue that many people read only the first pages of the book, then they stop.
"The more that you read the more things you will know, the more that you learn, the more places you'll go "
-Dr. Seuss
I suggest some books, and they will be as the following :
Cryptocurrency: Beginners Bible:
Mastering Bitcoin for Dummies:
Cryptocurrency Trading & Investing
-Learn how to analyze and deal with different situations ( pump, dump ..) in a smart way. Plus, try to help yourself with yourself, Do not complain and ask for help from the others, because no one is in your place. And even if you fail in the first attempts and lose a lot of money, then It is not the end of the world.
Believe me, learning from failed experiences will help you in order to improve your next choices, and you may start to gain a significant proportion of money.
2-Stay away from media news:
Media are always manipulating traders through some false news and even the social media (Twitter, Facebook..), They may even control what happens in the market (crisis, jump), in order to achieve the interests of some (the capitalists) and regrettably, many believe the information and fake predictions.
" Do not be a sheep and act like a wolf "
3- Be patience and try to be brave , not afraid:
The field of trading is profitable when you are patient and not hasty like many, and of course you must take advantage of the opportunities intelligently.
Fear is one of the most important obstacles that lead to losses, especially in difficult situations (big crash), like, panic selling...
IMO, Courage is by taking the risk, especially when there is an unexpected event (Big drop).
"Big risk, Big gain."
Cheers,
So, according to my experience, I want to give some useful tips, and hope they will help everyone, and will be as the following :
1- Read and learn the basics of trading:
-I think the best way to start understanding this field is by reading books related to digital currencies, but unfortunately, the issue that many people read only the first pages of the book, then they stop.
"The more that you read the more things you will know, the more that you learn, the more places you'll go "
-Dr. Seuss
I suggest some books, and they will be as the following :
Cryptocurrency: Beginners Bible:
Mastering Bitcoin for Dummies:
Cryptocurrency Trading & Investing
-Learn how to analyze and deal with different situations ( pump, dump ..) in a smart way. Plus, try to help yourself with yourself, Do not complain and ask for help from the others, because no one is in your place. And even if you fail in the first attempts and lose a lot of money, then It is not the end of the world.
Believe me, learning from failed experiences will help you in order to improve your next choices, and you may start to gain a significant proportion of money.
2-Stay away from media news:
Media are always manipulating traders through some false news and even the social media (Twitter, Facebook..), They may even control what happens in the market (crisis, jump), in order to achieve the interests of some (the capitalists) and regrettably, many believe the information and fake predictions.
" Do not be a sheep and act like a wolf "
3- Be patience and try to be brave , not afraid:
The field of trading is profitable when you are patient and not hasty like many, and of course you must take advantage of the opportunities intelligently.
Fear is one of the most important obstacles that lead to losses, especially in difficult situations (big crash), like, panic selling...
IMO, Courage is by taking the risk, especially when there is an unexpected event (Big drop).
"Big risk, Big gain."
Cheers,
the only useful thing you need to apply to yourself is to have a caring and smart mind and of course you trust yourself
I think tips for beginners like you should be more to read information and read how to trade properly and correctly because when you are trading you need to have the skills to be able to determine the right time to buy and sell coin.
My tips would be learn TA and also learn how speculative this market it. i would also advise learning to use fundamental analyse as believe it is required for this space.
When you start investing in Bitcoin and browsing the internet to collect news, there are likely to be hackers ready to prey on you. Search for your data, then send you a message. Either via e-Mail, WhatsApp or Telegram.Setiap message you receive, do not just clicked direct or download attachment. Make sure first that you recognize the sender.
Beginners should work hard to accumulate experience
At the moment cryptocurrency is very popular in this online industry. Too many people start cryptocurrency trading so as a beginner you must need to knowledge about cryptocurrency. If you don't have a more knowledge then stop trading before learn then start trading. Beginners should analysis the coin market because this is a very important tip if want to start training.
There is a saying that before you come in and step into the cryptocurrency world you should eliminate all of the greed you have in yourself because what happened is that when you take into account all this greed you will lose your money in this market
Good tips. I'd say that risk managment and security are the most important things. Don't put more that you can afford to lose, otherwise you can be cought up in a pain factor.
useful information and references, as beginners do have to find and have good knowledge to start trading in order to get profit and must dare to face the risk that might happen
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