Quote from: |MINER| on June 14, 2025, 10:11:49 PM

Quote from: Merit.s on June 09, 2025, 04:39:33 PM

As the topic says, newbies are always rushing into the cryptospace believing it's a get rich quick scheme when they trade. What's the best advice that you can give to these newbies to help them in their trading journey.

My advice is that newbies should only trade with the amount of money that you can afford to lose and don't use high leverage because trading is very risky. Long term bitcoin investment should be your priority.

My initial suggestion to newbies will always be that you should never invest money in trading without sufficient knowledge. It may be possible to make a profit sometimes, but it is like gambling, which will set you up for more losses.

And that's why I always tell those who want to start trading to first gain knowledge and then do demo trading to find out your mistakes and why those mistakes are happening and then correct those mistakes. However, later, when you master the analysis, you should start trading with a very small amount and gradually increase the funds according to your progress.

Gaining knowledge should be the first thing to do before putting money into trade. It is just unfortunately that many traders especially the newbies that have not experience would want to have the kind of results that professional traders are getting without knowing what such people had undergone in trading before getting such kind of experience.

Trading is not for anyhow person that don't want to be patiently gain experience before they start making money from trading. Trading should not be see as a safe world where you get the skill and the next expectation is making consistent profits.
Many traders still think that making money in the crypto market is very easy which is not. If you cannot incorporate different knowledge together, one might continue complaining about trading.