Bitcoin Forum

I'm going to start trading with cryptocurrencies and I need some basic information. I know how trading works but I want to know how much BTC should I start with and how long time does it take to get profit.

buy low sell high! it's the basic tip..

Its better to only use half of your money to buy coin at first and if price rises you will gain profit for sure and if not you can buy more coins at cheaper price with the remaining cash.
Never become panic when you see large dump within a hour and sell all your coin, that is the best time to buy more.

Imagine you buy 1 bitcoin at 400$, it's a wise idea to have some active orders or a bot to sell if it hits 350$ for example because at night when you sleep the price can go down easily even 100$ and you don't want to have your bitcoin stand still and lose money.

There are no guaranteed strategies for trading as most of the crypto's are manipulated a lot and is only profitable to people who are running those proof of scam coins.
some basic knowledge about coins and markets is available at coinmarketcap.com ,i will also advice to read the recent news articles on coinbase.

I agree,one more.....
you also have to be patient when you want to sell bitcoin back

and what do you think about arbitrage?

With more money u get in, the more money u can make, I think that is a rule. Everything else is more or less luck. I made some trading with 0.005 btc, with some currencies that I follow for some time now.
That is my advice to u, follow news, follow what people talk around and when u catch the right moment u need to react. And in end don't trust in anything u need to have your own way of calculating things in your head, when u develop that feeling u will be a good trader, at least I see it like that.
Find good trading site and try it, nothing can replace real thing and experience. I wish u good luck in all this, and be  careful. Regards.

First register as trader in any good trading sites like localbitcoins. then go with the trading demands. Having a bitcoin in a less number is not problem. I suggest you to have 5 btc atleast with you. Go with buying btc first and then do selling.and try earn trust from the people

it offer a very tiny profit, and it can not be done on any exchange anymore, but only on those exchange that offer a margin of profit, but they usually do, because they have something bad to offer

like higher fee, higher waiting time for your money to be deposited(more conf) or withdrawals, but with the right bot, you should be able to do a 0.1-0.5% of profit on the best case

Arbritage can be profiable if you have a lot of cash on both exchanges. But arbritage like gamlinb can be very risky when the price is very volatile.
Currently it is quite volatile, so I would not even consider doing arbitrage.

Patience is key when we talk about trading tips. I've had too often then i sold while the price was climbing. In some cases i mist over 70% of profit.
So don't do any hasting trading, have a clear mind and be patient.

Keep your head cool all the time! Easier said then done ofcours.

But my tip is to start of slow, new traders always makes mistakes in the beginning before they learn.
So you should be prepared for some losses in the start, and thats the reason it can be smart to start of in the small.

Best Tips for me is buy altcoin who have large volume, and the statictic price currently still down
dont buy altcoin was reach/up

I made a similar question a while ago, and basically, the answers were to use a fairly high amount (1-5 BTC) to see some profit, although you can learn with lower amounts.

Also main advice was "buy low say high".

I will add: always calculate beforehand the fees for buying/selling (create a spreadsheet or something) and realize which is the mimimum amount the coin has to go up (or down) to get some profit. Many trades with a 20 cent profit might equal a good amount of profit in the long run too.

I agree that buying coins that reached higher values, especially when it happens w/o some obvious reason, but since op admits that he's a new in
trading, i wouldn't advise him to trade altcoins anyways, because it's not that easy to recognize signals, and it's pretty much all just full of fake pumps,
and very much real dumps.

As a start, i think you should just get in on bitcoin, and try you luck and abilities with smaller amounts before going all in. And since there's a good chance
uptrend will continue on, never sell lower than your buy-in price, because with time, the price will recover beyond it, it's just matter of how long you're ready to wait.

Good luck with your future trades!

cheers

It is always volatile, by your logic you shouldn't try to trade with bitcoins because they are volatile and risky and by the way it is not like gambling, people can make profit in the long term trading.

The best tip for you is this: don't trade money you can't afford to lose.
The second one is this: when entering a trade always think first what you can lose before thinking what you can win.
Making money consistently trading is one of the most challenging ventures you can undertake but if you're passionate about it go for it. Just don't let greed rule your trading.
We are all newbies one day.
Good luck.

It might be useful and fun to go to a low price exchange with LTC or DOGE pairings then practice with those. The main thing is just to get an taste of it before you wade in balls deep.

Begin easy, go only to the BTC/$ duo at first, it's hard to trade altcoins without experience.

Get your hand in btc/$. You want to know how much you should buy? Just ask yourself how much you're willing to risk and how much you can hold.

The important in btc trading is to hold to your position. If you bought thinking prize will rise, then hold your btc. If you have $ and want to buy, wait for a huge decrease.

Price is volatile, you'll have an occasion at a moment don't worry ;)

I trade altcoins on cryptsy, and to this day I haven't lost a trade. I got most of my knowledge from a bunch of penny stock DVD's that are worth $300, I found them on the piratebay for free. There was 72 hours of information and alot of it was pointless BS. Sooner or later I'll be writing an in depth post on how I trade, I just need to get around to it. If you know how to torrent PM me, I'll send you a link to get them. The guy who made the DVD's name is Timothy Sykes, if you google his name you should be able to find some of his teachings online for free.

The main problem can be - know the right time, when to buy at low price. Therefore I would suggest to choose some crypto and then check them for some weeks, before you start to do something real  ;)

Its a good idea. I use to buy at when price is low only and I use to sell to traders when its reaches the good value for the bitcoin the market. But I noticed in many bitcoin exchanges, Traders are not updating the rate for the bitcoin according to its current condition. If they consistently work on that means I would really happy while selling.

I recommend to go to a exchange like BTC-E or any site and take idk .5 btc and trade with it.
Just to understand the system and get a feeling of the market.
Its like training, i did this back in the days with ppc when there was this "big announcement"

Try youtube there are hundreds of tutorials for learning this.

You just need to stick to the simple rules of daytrading. You buy low and sell high. Try to use less than half of your stack. After buyig if the price goes about 10% more sell it and wait for a turnback, if the price goes down buy some more to try to lower the buy price.

Anyways always remember Buy low and sell High.

BTC-E is good and they have MT4 wherein a user can start trading using a demo account. 0.5 wouldn't be a good amount to start with though if the user is new to BTC and I guess 0.1 would be more than enough and then the user can increase the amount as he gets a hold of it.

@OP: Demo account is the best tip I can give you. Best of luck as a trader.

Go and do this learning course:

http://www.babypips.com/school

its about Forex Trading, but most of the things can be applied to BTC

Trading bitcoin is very simple You could suggestion to your friends who are all using bitcoins and You need to do is just go to any trading site and there you find traders Just do If you want to sell or buy. thats according to your wish.

Thanks for the tips

The safest way to make money with trading is through arbitrage. This means that you see an opportunity to buy an asset in one place for a certain price and sell it immediately at another place for a higher price. It is important that you know you can sell the asset immediately at a certain price. If you decide to keep that asset and sell it later after price will shift - then it is speculation not arbitrage anymore.

I disagree. It may be true in some cases and currency, especially in the FOREX market, but it's not true with bitcoin. Unless you have really huuuuuuuge amounts in many brokers.
Cause you can't transfer funds from an exchange to another, it takes too much time! Depending on number of confirmations needed it can take up to an hour to make the transfer! So hard to do any arbitrage...

And you have to see a gap of prices big enough to absorb the fees, you usually have a 0.2% fee that woud'll have to pay twice. Considering the current price of 450$ (more or less) it means you have to ensure at least a 2$ difference ONLY TO BE EVEN!

Arbitrage is for huge amounts, dealt by robots in an automatic and fast way.

At least that's my opinion  8)