A newbie should always avoid using money in trading, until you fully understand everything about trading, it's better not to use money, I don't know about trading that's why I've never traded with money. I review demo accounts all the time. Moreover, trading is a high risk area, it won't take long to lose all your money due to a small mistake on the trading platform, it can wipe out your account in an instant. So I try to stay away from trading as much as possible until I know and understand trading better. I earn money very hard, I have to suffer a lot if my hard earned money is lost due to wrong decision. So I am always careful.
I have been researching about Bitcoin for a long time, I have learned about the profit and loss of Bitcoin and the results of holding it for a long time. So I focus more on investing in bitcoins rather than trading, I decided to hold on a weekly basis using the DCA method and I have been doing this for the past month.
I don't like too much trading, because I don't really have enough knowledge about it. I prefer to invest in bitcoin because in my opinion that is what will minimum my risk in crypto space. I usually see how people are complaining about trading, and is better for us as a newbie, we should always have something doing first before you engage your self in a trading. Have be studying bitcoin and making some research to know how he works because have not still get full knowledge about it, but gradually am sure I will be perfect on it.
I think you are on the right track because you are studying Bitcoin and like investing. My advice to you is that you may be tempted to choose the DCA method for Bitcoin accumulation. Accumulate Bitcoin from discretionary income will reduce your investment risk to a great extent. You should keep a backup fund for this strategy for the long term. You should keep extra cash funds for more purchases during dips. Trading is a risky business here your capital can be at risk if you are not experienced.
It's not just about being experienced. Even those that believe they're experienced have lost everything they had to trading. Trading is like highness, it is addictive and should be discouraged among newbies especially.
Yes, and especially a newbie should never start trading at the first stage, because trading is never an easy thing, even many experienced people face a lot of losses, in that case a newbie will never be able to do anything good from trading, because he is not fully experienced in trading. If a newbie starts trading, he will only suffer losses. Because in the first stage, the way a newbie thinks about trading, (they only think about profit), they first go into trading with that thought, but they only lose their savings. So in the first stage, they must be aware and make the right decision, otherwise they will lose everything even at the first.
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Bitcoin is not getting rich quick venture! Most newbies that ventured into bitcoin trading are no longer in the bitcoin market due to several reoccurring losses. It's not just about studying the trade, it is best to INVEST and NOT TRADE. If not for greed, no one would loose a dime in the bitcoin market. Investing for a long time with the DCA strategy using your discretionary income can make you someone better in the near future without you knowing it. Investing what you can easily forget is the best way forward. Don't get caught in trading because it is even addictive. Just buy and Hodl, bitcoin rewards every of its sincere investor sooner or later.