I spent a lot of effort on learning about trade. I have also experienced many psychological feelings, ups and downs, so I would like to share from the bottom of my heart some tips for beginners or amateur traders:
1. Trade only 1 pair of currency: usdt and altcoin
2. Invest in good altcoins only (1-5 crypto), focus will bring about higher chance of winning. Treat btc as an altcoin and make a speculation with it. Learn how to identify a good crypto in order to hold the coin whenever the storms come.
3. BUY ON RED- SELL ON GREEN. Spend only one third of your money on trading long down waves. Two-thirds of the money should be allocated in the downtrend cycle of this market.
3. Prepare yourself for the great crisis that may happen during 2019-2021. Before that time, you should be flexible to convert your money flow from cash, real estate to gold and valuable assets. During the crisis, we can hold diamond at junk price (for crypto and securities) and buy good real estate at low prices.
I think that at all times we can not fight the market, you have to know that the market is always right and that is the rule of the game, you have to be clever and select the market to be able to trade , can not fight the market. Without a proper plan and strategy, I believe you will lose a lot of money when bitcoins continue to fall.
Of course we can't really fight the market and as much as we want to be always on our favour, it will not the case. Most of the time is against us, thats why we need to be clever on how to win against it. Right now the bear market has been taking over, so its either get out or do day trading. Always buy low and sell high, but its easier said than done. Sometimes you need to be in the perfect spot to get the coins cheap and sell them when the price exploded. But cool tips anyways.