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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.

If beginners assume crypto assets are a get rich quick scheme, they will have difficulty making the right decisions and will easily panic when corrections occur, so before investing, beginners need to learn the basics of Bitcoin, Blockchain and how the market moves as a whole. They also need to understand the risks because the crypto asset market is very volatile, so for this reason it is highly discouraged for beginners to invest with money they cannot afford to lose.
As a first step, beginners should start investing in small amounts, when they are used to the situation in the market and are able to control their emotions, they can gradually increase the amount.

Before newbies in trading should start using small amounts to trade they should first understand why they need such amount for trading, they should understand that trading is very risky because cryptocurrency are very volatile. It is very easy to lose money than making profits and that is why it is advisable to use small amounts so that if they lose they will learn from it and have coins remaining to trade again. People believe that online is the best place to be their own bosses and make money, there are many opportunities and trading is one of them, but most of the newbies makes the mistake of thinking that trading is a get rich quick scheme. To be a successful trader somebody must learn it very well, if not they are no difference from gamblers.

For me then these steps will be the best.

1. Go finish up some course on Babypips.com
2. Try Demo account on those known exchange platform
3. Familiarization with terms and indicators
4. Test out with small amount on a live trading account
5. Apply those things you do learn in terms of TA
6. Try to apply some mix of FA as well
7. Continue to learn with different market variations
8. Set out Plan B or C and so on if Plan A didnt work
9. Proper risks management - which this is the most important thing of all.

On the time that you have decided to step your foot into this market then make it sure that you do come prepared. Why? Market is unpredictable in the first place.
No matter how good you are when it comes to strategies and analysis but still it wont be giving out that 100% precision when it comes into this aspect. You are the ones will
be making out that kind of adjustments on whatever the situation or condition that you would be that trying out to deal on with.