Tyson said:
Invest small amounts in the top five cryptocurrencies each week.
What do you do after that
This is called Dollar Cost Averaging. It’s more of a long-term investment strategy rather than active trading. Essentially, you’re averaging your entry price to reduce risk. This method suits holders more than day traders.
Consider taking the Web3 Exam Starter.
Are you focusing on specific coins, investment methods, or general tips to get started? You can check out this guide for beginners that I wrote. I also share other posts weekly on my blog: R100K - Road to 100K
I just started a Discord community. It includes a free basic course. Feel free to join
Be careful about the promoters on YouTube advertising projects. They could lead you to lose everything.
Check out Net Coins. They have beginner-friendly blogs to support your crypto learning.
The Invity blog has articles about halving, Dollar Cost Averaging, and related topics. It focuses mostly on Bitcoin, but it’s worth reading.
Learn about financial markets, various asset classes, and basic trading terms. I enjoyed reading Market Wizards by Jack D. Schwager for insights from successful traders.
You should check out the TopStepTrader YouTube channel for insights on trading psychology, risk management, and practical trading tips.
Always prioritize managing risk. Learn how to set stop-loss orders, calculate position sizes, and manage your overall risk for each trade. Consider paper trading to practice.
I also use indicatorsuccessrate.com for free indicators. It’s been very helpful.
Solana Scaling Solution Announcement - April 9, 2024: Credit Smart Chain announces its initiative on Solana scaling and a pre-sale offer. This aims to gain community support for better scalability. With ongoing congestion in Solana, this solution’s timing is perfect. It introduces an efficient and affordable alternative, promising quick transactions and low fees, enhancing user experience. This solution includes a bridge and a decentralized exchange (DEX) for easy asset transition from Solana to Credit Smart Chain. Notably, creating a liquidity pool on Solana can cost around $1000, while it’s nearly free on Credit Smart Chain. To use the DEX, visit http://swap.teleportstation.io, and for the bridge, go to http://teleportstation.io. The pre-sale is set to gather community backing for these scaling efforts, targeting 20,000 Solana. During the pre-sale, send a minimum of 0.1 Solana and a max of 25 Solana to participate. Tokens will be airdropped post the liquidity pool setup. One Solana equals 1,500,000 CREDIT tokens. Don’t miss joining this exciting blockchain advancement! For inquiries, reach out to Esme Wade-Davis at info@creditsmartchain.com or visit https://creditsmartchain.com. About Credit Smart Chain: CSC is a blockchain project founded in 2018, aiming for accessible blockchain technology for everyone.
As a newcomer, joining communities on platforms like Twitter or Discord is a good start. Feel free to ask any questions, and I believe people will help you out.
I recommend the Neolaunch Discord, where they share useful guides and updates on projects. It’s fun to interact with experienced members, and you’ll get tons of tips, especially as a beginner.
For news and educational content, check out CoinDesk. I think it’s a great resource for someone just starting. Welcome to the crypto space!
You could also look into mining, market studies, web design, creating websites, coding, or trading coins. I like Bitcoin, Ethereum, and new coins like Ton on the Ton blockchain.
I advise against it; it could lead to anxiety and depression from constantly checking your phone. Trading often feels like guesswork, and those who made money lately were simply lucky.
Oak said:
I advise against it; it could lead to anxiety and depression from constantly checking your phone. Trading often feels like guesswork, and those who made money lately were simply lucky.
Thanks for your warning.
I just can’t keep going with a regular job as half my salary goes to rent.
If I could earn 400-500 a month from trading, it would help tremendously.
@Dawson
Trading like you described is similar to gambling. Becoming a trader doesn’t mean you’ll earn a steady income. Most traders actually lose.
I suggest you look into Dollar Cost Averaging into Ethereum for the long run. Here’s a collection of beginner resources https://jbudz.xyz
@Dawson
Trading isn’t just guessing. It’s challenging, no doubt. I’m still learning, but many people make substantial profits from it. Success comes from market analysis. Once you master it, trading isn’t just gambling.
@Finian
Can I balance my engineering studies with crypto trading and learning analysis
Dawson said:
@Finian
Can I balance my engineering studies with crypto trading and learning analysis
I know an archaeology student who started learning crypto trading last year, and he’s made significant progress! With effort, you can do both.
@Lyric
Can you share what resources he used?
Dawson said:
@Lyric
Can you share what resources he used?
Check my previous comments, like EmperorBTC, etc.
Dawson said:
@Finian
Can I balance my engineering studies with crypto trading and learning analysis
Absolutely. Many people successfully manage full-time jobs while trading.