Topic: What are the useful tips for beginners? - page 9. (Read 2350 times)
yes, I really agree with your writing. and thanks for making such tips that are most likely to be useful for beginners. learn and read the basics of trade, this is most important for beginners who trade. with more reading and learning, the more things you will know. always see the latest news. because I think the positive and negative news, also affect the rise and fall of market prices. be patient and brave, being patient will probably dispel the sense of panic and with the courage of not afraid to fail, may lead one to success.
very useful tips for new traders is my advice you do not be too panicked to sell coin at a cheap price it will make the bitcoin price to collapse and will make you get a loss, you should just bear not easily influenced by others.
My advice to the new traders is know first all the process of trading in order for them not to feel worried because they already know it. It is easy for them to buy and sell coins because they have already the idea what the best thing to do.
Beginners will have many questions they are not familiar with about what is in the currency market, so we should give them useful advice to help them trade better and have more experience.
A new user should know all the basic techniques of trade and should have all knowledge about crypto currency, so that when you enter the market you must certainly understand it and learn the technical analysis to know about when to buy and when to sell, be confident when you invest, try to use small amount of money at starting but later on you can increase it with passage of time and experience.
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,
Wow, I really love these tips. They are very useful tips for beginners.
However, practically the first tip should not be limited to reading of books and articles alone. There has to be some practical aspect of it. I'd advise any beginner to invest a very small amount that he can afford to lose and then gain experience from it. Experience, they say, is the best teacher.
I totally agree with the second tip. Media news only tend to manipulate the trader to make some wrong choices to their benefit. So I wouldn't advise any beginner to pay attention to them.
Unfortunately there is no a student book which teaches you and explains all difficulties. I think that it is impossible to write a comprehensive guide because trading is experience and every trader has its own experience and a point of view on most things.
I consider that the best book about market is your own experience.
There are many useful books out there but the problem is that trading is one of those things what you can only learn by doing, in a way it is very similar to ride a bicycle, you may read a hundred books about how to ride a bicycle and you may learn a lot from them but at the end the only way to learn how to ride a bicycle is by actually doing it and the same is true about trading, this is why I always recommend for people to first invest a very low sum of money that they do not mind losing so they can get some experience at a low cost. I consider that the best book about market is your own experience.
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".
I agree that investing in only one coin is bad and it should be added to the tips. Because investing only on one coin is also considered as gambling your money. Gambling in a sense of you are putting your money in a 50-50 situation. So, i suggest that every beginner in cryptoworld should know the importance of not depending on only one coin.
Beginners will have many questions they are not familiar with about what is in the currency market, so we should give them useful advice to help them trade better and have more experience.
very useful tips for new traders is my advice you do not be too panicked to sell coin at a cheap price it will make the bitcoin price to collapse and will make you get a loss, you should just bear not easily influenced by others.
Money management is the key!!!!!!!!!!
This is the secret.
You can loose 8 time on 10 and still make money.
Its no magic - its MM!
Technical analysis is good, but you need so much more.
Money management and psychology are keys.
What's psychology ?
If you loose 8 times in a row and change your plan....
Psychology is the ability to stick to your plan.
Because who need a plan that it doesn't follow?!
It is of no doubt that the first attempt in not easy and at all and we face with difficulties during any surrounding. So you will also feel uncomfortable and will be facing difficulties in your first days but it is an advice from my side to keep monitoring and observing the market of your desire so that you may learn how to handle everything after which you can start with no hesitation. This is the secret.
You can loose 8 time on 10 and still make money.
Its no magic - its MM!
Technical analysis is good, but you need so much more.
Money management and psychology are keys.
What's psychology ?
If you loose 8 times in a row and change your plan....
Psychology is the ability to stick to your plan.
Because who need a plan that it doesn't follow?!
Those are actually a good read and you can also google the things you want to learn about trading. Basic tips for beginners and ebooks for beginners. That’s where I learned and am still learning up until now through those ebooks.
Evaluate yourself on the level of readiness, willingness, and the commitment to deliver quality results. Read a lot of related articles, watch videos, don't hesitate to seek help, do own research, and keep on learning new helpful ideas. Learn what's the usability of the technology, how it works, and to stay calm whenever there will be a massive change in price and be aware that it's just a temporary correction and will soon bounce back.
Those are actually a good read and you can also google the things you want to learn about trading. Basic tips for beginners and ebooks for beginners. That’s where I learned and am still learning up until now through those ebooks.
Wow thank you for this tips its nice to all beginners like me this tips are really helpful. Please continue share your knowledge to all people that beginners and doesn't have knowledge in trading. Trading is so risky and dangerous so be careful there will be a possibility to gone your money.
tips and good advice, but I think experience is the best teacher and if you want to succeed in the currency crypto then you have to dare to take risks, be patient and never give up
While the three tips the op gives are very basic unfortunately many people do not apply even one of them, many people do not take the time to learn about the market, are easily influenceable by the media especially the media that is against bitcoin and the worst part is that they lack the patience to keep holding their coins because they think they can obtain profits really fast, if they applied those three advices by the op the chances of beginners to make money will become way higher.
In my opinion the first step is to study thoroughly the market of cryptocurrency and to observe the trend of the propel. It is best for entering. I entered in this world through my friend who was an experienced crypto investor and has made thousands of dollars. By this way you can handle any problem easily if an expert is available for your help.
For beginners, i would suggest you shouldn't invest a lot of money at the beginning, only invest as much money as you can afford to lose. Before investing, follow a few months charts of the coins you want to buy then decide what is the best price to want to grab it.
I am also a novice, but I have a few ideas, do not dare to call it advice but I suggest the following: do not rush in this market, be patient, and must know how to analyze a project or one dime . So you have the opportunity to get rich from the cryptographic market.
The mentality of getting rich quick is what has made the whole investment space what it is today. Even outside cryptocurrency, we get to see people hearing there is money to gain in something and then they forget all about the possibilities of the risks involved, how to get them-selves prepared for such risk and how to make great decisions. Applying that into the crypto world is also one of the reasons we keep seeing people fail in their investment till date.One thing is very important that never invest in ICOs and try to invest in coins that are listed in exchange, so that you will be mentally relaxed with your investment.
I guess this must be a very important one for novice traders. But we cannot say never touch ICOs. Because there are promising ICOs and their returns also decent. But ICOs fall into investment category whereas we are talking about trading here. Yes reading is one of the best way to learn. Also listening from the experience of others is one of the best to learn. Try and try until you succeed I believe that in that way you will find the best answer you are asking now, it is using your own risk and finding your own skills in trading world.
There are many ways for learning. You can search videos on YouTube, Google, different articles and if there is an expert nearby you, it will be very helpful for jumping into the river of cryptocurrency. One thing is very important that never invest in ICOs and try to invest in coins that are listed in exchange, so that you will be mentally relaxed with your investment. Also to be careful with low marketcap coins, in one instance you could see massive 2x-10x profits if your coin starts to moon, on the other you could be stuck with something that'll take 6 months to move a few satoshis. Do your research carefully before plunging headfirst into the s***coin pool!
Well it is normal price never remains the same; we should surely make good research before we go for investing our money in some kind of currency. I think soon the price of bitcoin will be high so buy some coins right now and hold it for your better future, you are new so no need to listen everyone just make good research about present best investment and invest your money for long term, have patience and never take part in panic selling.
Unfortunately there is no a student book which teaches you and explains all difficulties. I think that it is impossible to write a comprehensive guide because trading is experience and every trader has its own experience and a point of view on most things.
I consider that the best book about market is your own experience.
I consider that the best book about market is your own experience.
Yes reading is one of the best way to learn. Also listening from the experience of others is one of the best to learn. Try and try until you succeed I believe that in that way you will find the best answer you are asking now, it is using your own risk and finding your own skills in trading world.
Keep on learning because in trading having knowledge is the necessary factor, the more you will have to knowledge the more you will earn so increase your knowledge and try to polish up your trading skills as well, if you will keep on participating in bounty and signature campaign I am sure you will earn huge profit at the end, we should buy more and more bitcoin as at starting you will earn good for buying low and selling high, try to trade for long term. Jump to: