Title: How can trading with cryptocurrency? Post by: Xtrafa on January 19, 2018, 03:41:11 AM How can I involve with cryptocurrency trading as a new comer? I want to gain profit from cryptocurrency trading like bitcoin and other rising cryptocurrency.
Title: Re: How can trading with cryptocurrency? Post by: Beefcake on January 19, 2018, 03:55:34 AM It is not easy to make money trading any asset short term. I am not sure but it sounds like you want to day trade bitcoins to make money. This is very hard to do and many people lose lot sof money trying.
I would start by learning about techical analysis. That being said there are lots of suspicions about activity like wash trading and the like, which makes technical indicators dubious. I am not so good at short term trading. I like to make money and I don't want to sit in front of my computer all day to do it. So my strategy is to find an investment that I think will go up in the long term. For example if I think more people will buy cars over the coming years, I will find the car company that I believe has a competitive advantage and buy it. I don't worry about short term prices! This is much less stressful than watching the ups and downs every day. I bought a company before at $30 a share, it went down to $20 the next week. But I was confidant in that company so I didn't worry about it. I eventually sold a few years later for $100 a share. The easy way! However if you insist on short term trading, start with paper trading until you are confidant enough to make money. If you can't make money paper trading, then at the very least you have not lost anything except time, and you have likely lerned a great deal in the process. Good luck! |