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What's Your Advice for a Novice Crypto Trader?

  • Thread starter Thread starter Suba
  • Start date Start date
Abibatabosede said:
In everything one do, you need not to rush, so my advice for a novice in the crypto trading business is not to be too forward, get a guidian and learn bit by bit then invest gradually
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I am one of the novice crypto currency trader because I started not long ago, butbi have been taught to always make my research before investing in any coin , and not to always rush in selling due to rumour of the coin dropping.
 
I will advise you to get a mentor. the person is going to guide you from making unnecessary mistakes that will cost you your money and your time.
 
kayode10 said:
I will advise you to get a mentor. the person is going to guide you from making unnecessary mistakes that will cost you your money and your time.
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this is one of the perfect thing people should do because you're not getting people that can train you on how to go about, it is possible that you will lose all your money if you are trying to do it alone. crypto market is extremely volatile.
 
There's nothing like a novice crytocurrency trader unless you want to squander your money. You have to learn the rules and ethics guiding cryto trading to make gains and to absorb loss if it happens
 
It's better to start with the simple things you know before delving into more difficult ones. Try to focus on tokens that you're familiar with and keep on learning to improve on your capacity.
 
Suba said:
We all know, cryptocurrency trading is a high risk. Of course, before trading we must study analysis, strategy, learn demo account. but novice traders are often confused and I think they need guidance or advice, here are some advice from me:
For beginner Altcoin traders, don't trade Altcoins whose prices are too low, because the price movements will also be low (slow)
If we take Buy, it will usually take a long time to wait in line, also at the time of sale, of course it will be even longer. How is your experience trading crypto, and what is your advice for new crypto traders?
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Trading on cryptocurrency is not as easy as you think, before you can successful make good money you have to full knowledge of how the market work.
 
Whenever it comes to cryptocurrency transaction, they should always know that it's something that they need to be very patient with doing otherwise it's going to cost them when they make irrational decisions.
 
This is not to scare the newbies in the cryptocurrencies trading business, but to make them aware of the realities I'm trading or investing in the cryptocurrencies market. There is possibility that you can loose your investment if you enter the market at the wrong time
 
Suba said:
We all know, cryptocurrency trading is a high risk. Of course, before trading we must study analysis, strategy, learn demo account. but novice traders are often confused and I think they need guidance or advice, here are some advice from me:
For beginner Altcoin traders, don't trade Altcoins whose prices are too low, because the price movements will also be low (slow)
If we take Buy, it will usually take a long time to wait in line, also at the time of sale, of course it will be even longer. How is your experience trading crypto, and what is your advice for new crypto traders?
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The best advice I could give to anyone going into trading as a newbie is to trade carefully and never trade with money that he or she could not afford to lose if anything happens during the trade I guess.
 
Well, I think crypto traders should also be good at predicting the price. Never trade in a coin that has been declining in value for a week and wait for its value to rise again. This is the advice which I can give to other traders.
 
Start small and try with low valued coin. This is the best advice I can give to someone who is trying to trade for the first time. Starting small means starting with small funds.
 
I would give three as advice to a new crypto trader.
First, do not be greedy and want to get rich very fast.
Second, be ready to learn from a professional trader.
And lastly, never do a panic sell, this is the time many people loss a lot of money, especially when there is a little correction in the market price, some new traders rush into selling and they later regret
 
My advice for people who are just new into cryptocurrency is that you shouldn't just expect it to be a get-rich-quick scheme ,you have to really understand how to trade the volatile market before you even think of engaging into a day trading.
 
I am not in a position to give advice to any one because I am not even trader or investor. However, I believe if you are trying to trade or invest, you need to do a research and also invest the amount that you can afford to lose.
 
My advice to him or her ,is to always make the right decision before trading ,and always study the market properly before thinking of making any investment actions to make gains from the market , because of the dimensions the market tales too
 
My advise will be not to be in an hurry to make profit from your trade, it is best to watch the chart and keep in might how it works, and thanks to block chain, you can get to know the history and how the cryptocoin is moving every now and then.
 
For a beginner it is always advisable to begin with a Demo account it will help you to understand the market trading very well,and also one should have a target and aviod greed while trading.
 
If you are going to start crypto trading, I would recommend to the person who is going to get involved in it that first invest in cryptocurrencies, that they use them and that they familiarize themselves with their movements and their volatility, I would also recommend that you use a demo account first for a while before using your own money, and when you decide to do it, I will recommend you that manage well your money and make a budget to know how much money to allocate to cryptocurrency trading, as it is quite risky more if you are a newbie.
 
My advice to a novice who wants to invest in cryptocurrency is not to invest if he's not ready to lose money. I've know some of them who would want to invest but they won't understand losing money in cryptocurrency. If that happens, they will be blaming who helped them to invest.
 
Suba said:
Usually a pump and dump is marked by a price change of around 20% and will happen over and over again, so as small investors we have to be more vigilant about paying attention to changes in crypto prices.
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seriously your advice sounds so useful mostly I think for the beginner,what I know is that for crypto trading one need to start with small deposit and I also think that study the market properly first to know which currency to trade study its previous price fluctuation carefully before you start trading that is my advice
 
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