Since we’ve been growing really fast recently, I prepared a little starter kit to help newbies avoid loosing money

edit: avoid losing money.

Apologies for the typo on the heading.

I've added links to other useful posts on both this sub and elsewhere on some topics. So be prepared to get sucked into a nice little rabbit hole of learning if you wanna get a great headstart.

1. Learn the basics of cryotcurrency trading basics of cryotcurrency trading .

2. Make sure you know what the following basic crypto terms/abbreviations are:

ATH – All time High,

FUD – Fear, Uncertainty and Doubt,

FOMO – Fear of Missing Out,

Market cap, Volume & Supply,,

Candlestick charts,

Support and Resistance levels,

Relative Strength Index,

Moving averages,

Dollar cost averaging (DCA),

And many more.

1. LEARN to use your exchange app. Seriously, make sure you understand all the basic tools in your exchange app.

2. Learn about market circles.

3. Don't chase hype. Avoid FOMO (fear of missing out) traps. Don't believe everyone who is shilling a coin. Always remember the adage: “If the shoe shine boys are giving financial advice, then it’s time to get out of the market." Practice DD (Due diligence). Don't ever chase a coin that's gone up so much. Never consider a miss out on potential profits as loss. Always do your own research (DYOR).

4. The market is not always like this, it's a very volatile and Bullish market, a lot of all these gains you see are not normal.

5. Please only invest money you are willing to lose. Don't take out a loan, use rent money or other funds you can't afford to lose.

6. Low caps, lets say anything not in the top 50 by circulating market cap, come and go like the wind. These projects rarely stay around, they often can’t launch products, and most die a slow death on exchanges as founders and early investors dump them to zero drying up any liquidity that is there. Becareful with them and do a very thorough research before investing in anyone for the long term. Again, always DYOR.

7. Absolutely don't touch margin trading/leverage/futures/options unless you are pro at all of the above. Otherwise stay put in the relatively simpler world of spot trading.

8. Don't ever feel bad for for investing with small amounts, any amount is good, it will help you to learn. No one's cares if you've invested $100 or $1m. What matters is that you've taken a step for your future self, which most of people are disconnected.

9. Your goal in long term investments are the high cap coins among the top 30, 20, or more preferably top 10 that have been around for a while. Or other altcoins whose projects you've done diligent research in and truly believe they'll grow immensely and contribute to the crypto sphere and tech in general.

10. Learn to spot pump and dumps (PnDs) and runaway from them! Also learn strategies for recovering from these dangerous schemes if you've fallen for one. Trust me, greed and high-risk will not help you recoup your losses.

11. Whatever low you experience, there are thousands of skilled traders out there today who've experienced the same and even worse. Trust me, you'll recover.

12. Never place all your trust on technical analysis. They can disappoint you like that highschool friend that always never stood up for you especially when the bullies (whales) showed up to deal with you. They're also almost horseshit when dealing with low cap coins.

13. Understand basic trade psychology, especially during uptrend and downtrends. And always keep an eye out for potential cognitive biases like confirmation bias, loss aversion, endowment effect and others that may greatly influence your decision making.

14. If you're not willing or ready to commit yourself to a lifetime of learning, you shouldn't be trading or investing in cryptocurrencies.

Bonus: Don't forget to always help out other newbies when you've become more accustomed to the market. And never forget: You were once at the bottom looking at the top for advice. Humility is king!

Any other tips would be much appreciated.

Edit: Thanks for all the additional tips! I'd suggest you go through the comments to see the additional priceless gems contributed by others, especially if you're a newbies.