Post
Topic
Board Beginners & Help
Re: Best trading advice for a beginner
by
leonair
on 30/12/2024, 14:45:05 UTC
What advice would you give a newbie that started trading? Let's say he has decided to leave his comfort zone and get his hands on the it.
Are there pitfalls to avoid? Where is the best place to get started with? Any materials to help grasp the concept faster? Do you mind giving hints on what helped you scale through in your early beginning.
There is no special secret to trading, the more you research the market, the more you will understand how a coin in the market performs at any given time. Trading is not something that anyone can learn overnight. However, I can give this advice to newbies that in a new situation, without understanding trading or market analysis very well, you should never go into leverage trading such as margin trading or futures trading because crypto is very volatile. If someone enters a coin with high leverage without properly predicting what the price of the coin will be after 1 hour, then his fund can be liquidated quickly, which can be a very bad experience for new traders.

By avoiding leverage trading and trading with small amounts in spot trading, he will understand how the market behaves and he will gradually enjoy trading.