💡 7 tips I would give myself when I just started trading crypto
The world of cryptocurrency is like a jungle: beautiful, dangerous, and unpredictable. You can double your deposit in a day or lose it all in a couple of hours. Over the past years, I’ve made many mistakes and just as many conclusions.
If you are just starting your journey in crypto, here are 7 tips that can really save you money, nerves, and time.
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1. Start small
At first, it will seem like you have understood everything. But this is an illusion. At the early stages, you will most likely lose money — and that’s normal.
👉 Advice: start with a small amount. One that you are not afraid to lose. It could be $50 or $100. The main thing is to learn, not to hit the jackpot in the first weeks.
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2. Trade by plan, not by emotions
Trading is not about luck, but about discipline. When the price goes up — greed kicks in. When it falls — fear. And if you don’t have a clear plan, these emotions will lead you astray.
👉 Advice: before each trade, ask yourself three questions:
• Where is the entry point?
• Where is the profit exit?
• Where is the stop-loss?
If there is no clear answer — don't enter.
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3. Understand the basics of technical analysis
You don’t have to be Peter Brandt, but you need to understand the basics. Support and resistance levels, trend lines, candlestick patterns — all of this really works if used wisely.
👉 Advice: start with simple things. Look at the chart and ask yourself: where does the price most often go after touching a certain level? That will already be a start.
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4. Don't go all in
One of the most common mistakes is to put the entire deposit into one trade. It seems: “I’m sure this will be a 100% rise!” And then — minus 40% and panic.
👉 Advice: use risk management. Don’t risk more than 1–2% of your deposit on one trade. This does not guarantee profit, but it will definitely save you from losing everything.
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5. Diversify your portfolio
Even top projects can suddenly drop by 70–90%. Don’t put everything on one token, even if 'whales are entering' or Elon Musk mentioned it.
👉 Advice: keep 5–10 different assets in your portfolio. Let some be in stable coins (BTC, ETH), and some be in promising but riskier altcoins.
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6. Keep an eye on the news, but filter out the noise
News affects the price. But the market often reacts to the news even before you hear about it. Also, a lot of fakes and 'pump channels' can confuse you.
👉 Advice: read official sources: Binance Blog, CoinDesk, Cointelegraph, Twitter of project founders. But don't act blindly on every piece of news — use logic.
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7. Keep a trading journal
This is perhaps the most underestimated but powerful weapon of a trader. Write it down:
• why you entered the trade;
• what you expected;
• how it turned out;
• what went wrong.
👉 Advice: even 5 minutes a day analyzing your trades will give you more than 5 hours of YouTube analysis.
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💬 Conclusion
Trading in crypto is not a way to get rich quickly. It is a marathon with elements of psychology, strategy, and self-analysis.
My first months were full of mistakes — and I’m glad I didn't put everything on the line back then. Now I trade with a clear head and a plan — and I want you to start right too.
🔁 Save to remember.
✍️ What advice would you give yourself at the beginning of your journey? Share in the comments.