Bitcoin Forum

Looking for some easy to start with trading tips.
I don't gamble and have always want to start trading BTC and maybe also play around with some of the shit coins for fun.

Im not looking to trade much so really don't care if i dont make a fortune or lose, only want to start playing around with about 0.2btc till i know a bit more about what im doing.

Trading has always sounded interesting to me so any help or links would be much appreciated.

I am not a great trader, but those tips served me...

1) Create a spreadsheet to record your buying and selling, the price you bought /sell, the costs, how many coins were sold etc.

2) Start buying as low as you can. I usually try to trade intra-day so I check the minimum price for the day and try to buy at or slightly above it. Don't spend all your money, perhaps only half it.

3) Having this first buy as a reference in your spreadsheet, try to sell the coins obtained very slightly above, but with earnings. If the price does not go up, but instead goes down, buy again with the remaining money and expect to raise.

I know it is not a greaaaat strategy, but it gets you started and begin to learn along the way.

Thanks maokoto, you got some good starter ideas there.
When trading small this way dont you get eaten up by the fees?

since the fee is percentage based, if you sell higher you wont lose anything

I think the transaction fee is with respect to the trade volume and not to your margin.

Example:
You bought 1 BTC at 1000 $/BTC
You sold 1 BTC at 1001 $/BTC

Trade profit: 1 $
Fee: 1000 * 0,002 = 2 $
Net profit: -1 $ (aka loss)

Trading is like gambling really. Both are risky. I guess the only thing you can do with trading s buy low and sell high. Not as easy as it seems though and you have to keep your money on an exchange which I personally don't like doing.

With Bitcoin’s price skyrocketing in the last weeks, a lot of new players are getting curious about this mysterious cryptocurrency, but only a few have the necessary knowledge to start trading like a pro. So, here are six Bitcoin trading tutorials that can help the newbies get started. Take a look, learn the basics and happy trading!

https://99bitcoins.com/6-bitcoin-trading-tutorials-worth-reading/

I think you got the basics there. With this basic knowledge and a heartless mind anyone can make some profit.

So you better stick to these fundamental rules and more...
Before you buy any type of asset you should first do an intensive research about it to see if it's a good choice.
Always stick to these basics and you'll be fine!

Check the fees. Many exchanges have so high fees that you have to struggle to make a profit.

Only start with a very small amount. I would use $20 only. You will lose it anyway so it's better to learn cheap.

Don't act on emotions. Never. That is a really hard lesson you need to learn.

Hello,

I use bittrex.com and I trade on new altcoins with high volume.
Another tip:Buy cheap,sell expensive.
Be patient and you will succeed

I don't know, I wouldn't be trading if I was you. One of my friends used to say, I prefer gambling over trading, in gambling you at least know the ods before the start of the game, in trading, you know nothing! 

If you have  to trade. Read a lot, investigate, get in on the lows, sell on the highs, don't get greedy, and hope you are lucky. Be aware that most of the alts are pump and dumps as well, so don't get dumped on.

Actually it might be worse than that as some exchanges charge both on the buy and sell side.

So using your example:

You bought 1 BTC at 1000 $/BTC
You sold 1 BTC at 1001 $/BTC

Trade profit: 1 $
Buy Fee: 1000 * 0,002 = 2 $
Sell Fee: 1000 * 0,002 = 2 $
Net profit: -3 $ (aka loss)

So here you would only be in profit by waiting until the price is high enough to offset all your fees, in this case you would need to sell > $1004 to be in profit, as you already "lost" $4 in fees.

If you really wanna make profit by trading, better try out Alt Coins instead of bitcoin. And always remember, trading is primarily gambling, whoever says what. So, dont invest something that you can not afford to lose.

Yes trading never called it as a investments but some people still believe it is investment. It is purely gambling. Here many people lost and only few people will make profit.

Paper trade to see whether you have an aptitude for it first. Very few do. It can take an awful long time and some very expensive mistakes before successful traders conquer standard human emotion.

Everyone's a trading hero in retrospect and every move looked obvious. It's a whole different ballgame if you're flailing around in the middle of it.

For the majority of people, trading is considered as gambling, you don't know what will happen next!

But I think there are some factors to not under-valuate:
- speculation, whale, investors coming etc. You need to monitor always the coin you bought. Just 10 minutes later and you can lose everything. 10 minutes before and you can multiply your earning. Focus on the market and place your bids carefully.
- development activity. Try to focus on developer, how he wrote messages, how he develop etc. He can appear a good developer.. and disappear in 1 day and leave the coin at 1 satoshi.
- on free time, read about alt coins and (of course) bitcoin. Try to understand how most people will move on the market.

Trading coul be an investment, but who trade must be focused on many aspects.

Fees got me in the beginning.... Emotions got me later on!

This advice is solid... But usually best learned personally -_-

If you want to get your feet wet trading consider buying and selling hashpower at Hashnest. There are several advantages to trading hashing power rather than bitcoin. When you have a position open you are earning extra income from mining. Hashnest internal market is very liquid and offers a range of contracts to trade in.

UMISOO is very popular with traders as it is more sensitive to bitcoin price than other contracts like S5. For example, right now UMISOO price is depressed due to yesterday's slide in bitcoin price, presenting a buying opportunity. If you bought both S5 and UMISOO hashing power today if bitcoin price increases $10 tomorrow the price of UMISOO will gain significantly more than S5.

You can trade less than 100 GH/s lots at Hashnest, so if you only have $100 to learn with no problem. If you need some tips on how to get started you can read how to profit with Bitmain Hashnest (https://bitcoinnewsmagazine.com/how-to-profit-with-bitmain-hashnest/) for advice.

thank you for the info. Trading hashpower is a word that i didn't know. Gonna read something, thanks

I was just trying to make the point that the fee is not to be paid from your "margin" (in which case how would you pay a fee if you made a loss?  ::) ), but from te overall trade amount. Of course, usually you pay both on sell and buy, which makes it even trickier.

If trading was easy as buy low sell high then everyone would be doing it. There are many aspects to trading and making a profit,or loss. Remember if someone makes a profit chances are someone makes a loss. Which category will you be in?

I don't think trading is as simple as buy low and sell high. If that was the case then by now many people would have been rich but until now 90% people failed and hardly few people made money. So be careful when you trade online.

There are a number of good tutorials available on Youtube that will teach you how to get started with trading.
https://www.youtube.com/results?search_query=bitcoin+trading+tutorial (https://www.youtube.com/results?search_query=bitcoin+trading+tutorial)

Great tips, thanks for the information you provide :D

Bitcoin is currently trading as an unregulated free market so the trading patterns of Bitcoin are purely based on emotional. There are lots of charts out there tracking the highs and lows of bitcoin against each other and against local currencies like USD. Do not do any trading with borrowed money because you will surely end up at bigger loss. Before you start your trading, you also need to fix your maximum loss so when you reach that just sell off and wait for next right time.

Try poloniex, that is a good trading platform.. the community is very and you can take the advantages by reading the trollbox and takes som trading advice..

if the tips of me, quite trading with a focus on one currency, for example bitcoin or dollar

I'm not sure I follow... Your tip is quiet trading? As in no day trading? Thanks

thanks sir
i will try the tips you give ,, nice strategy  :D