The Quest to Your First Crypto Profit

[Captainsaudi]

Every crypto trader's main motive is to make as much profit as possible so the question how should I make a profit from the crypto space? The common successful trading strategy has always been to buy low and sell high but most newbies are faced with the problem of buying at the right time or selling at the right time. You might buy a token at the right price but when you don’t know when to sell you typically become a bag holder. 

Crypto is based on speculations and analysis, events also alter your research most time and this is why it is advisable to focus on projects with good real use-case in the industry so it can survive a dip. Not all projects will survive the bear market and crypto newbies need to understand this before investing. Getting the right information could also help in buying at the right time and this is a major challenge to newbies. Where should I research for the project? What features should I watch out for? Etc. 

The market has changed from what it was in the Bitcoin era where we have just one token but now we have over a hundred daily new tokens so newbies are faced with FOMO. Some even jump into meme projects because one KOL told them he made billions from Doge, Shib etc. and they heard that patience is the key in this industry so they just buy a meme coin and hold. 

Crypto is highly volatile and understanding the industry will help you to stay afloat and earn something from it. I know there is that urge to make a profit quickly so why not go for Copy trading since that will give you the luxury of time to understand the space while making some profit off an expert trade? You can also study the expert trade and learn from his strategies then practice it on demo trading. Recently, Bitget introduced Bot copy trading which is another innovation that gives newbies a safe landing in the space.

[BashJasper]

Do you really think it's safe for newbies to copy-trade without basic trading knowledge? I don't think so. I think it's better the learn how to trade without emotions first and understand the essence of risk management. Well, all these tool are readily available on few exchanges though

[Megamind]

Okay, so what's the win rate here amd how accurate will it be in this ever-volatile market?

[Maxicreed01]

23 hours ago, BashJasper said:

Do you really think it's safe for newbies to copy-trade without basic trading knowledge? I don't think so. I think it's better the learn how to trade without emotions first and understand the essence of risk management. Well, all these tool are readily available on few exchanges though

Yeah, Its pretty possible and I guess that's the obvious reason copy trading was introduced. The exchange in question has been celebrated for assembling most of the highly rated elite traders for lees skilled traders or noobs to copy their trades and I think this was the reason behind their success story.