Bitcoin Forum

Hello traders!  

Can I ask you about how can begginers start in trading? If you had already a little bit of knowledge about in cryptocurrency and technical analysis or terms in crypto systems can you will start trading? And last thing for a begginer like me how much the starting capital or money will I spend to become traders?

Can you share your opinions and experiences. For us to start investment and trading with cryptocurrency.


Thank you!!

Yes.You start with learning how crypto works and get your basics about crypto currencies right.Things like wallet,public key,exchanges etc are need to be understood before blindly doing stuff.Read a lot of cryptos in general and maybe watch a few videos on youtube to get an idea how things work.Once you have basic technical understanding of the cryptos, you're ready to buy/create a account on an exchange.

You start small.In fact, you start very small.Download some ebooks on crypto trading which will have a follow up tutorials and you can start doing stuff as you go through it.

Opinions are subjective.Facts matter.General consensus is

- Don't put what you can't afford to lose
- Don't store coins on an exchange wallet
- Use exchanges which are reputable in your country
- Don't put your life on it

0 - Choose if you want to earn bitcoins or dolars. Dont mix it. You can't make 1 trade and say i earned 100sat on it and next trade and say i lost 100 sat buy earned 10$. Earn sat or $.
1 - try to chose coins that are good fundamentialy and at right price (dont jump into shitcoins pumped to top50) - chose some and trade on them only.
2 - fallow their twitter and telegram - news are gamechanger
3 - chose good, high volume exchange with low fees i suggest you binance
4 - as a trader with basic knowledge about TA all you need is experience. Thats why chose minimum bet (0,0001BTC ~ 6$ in binance) and make as manny trades as you can. Learn with every of them. What can possibly go wrong/ -10%? its only 60 cents with this bet. And what you will learn is priceless. If you will not earn on 6$ you will not earn on 1000$
5 - Chose small candles (5-15 min) for beginig. Lower risk (there will be less waste after wrong predicion for next 3 5min candles than for next 3 1hour candles - 3h amplitude can be up to 10% 15min amplitude is up to 2%) and you will make more trades daily. That will faster your learning.When you will sucees on short candles you can jump to longer. (but look at all timeframes. If you are imexpirienced dont jump on buy oportunity on 5 min cadles if there is sell oportunity on 1h or 1d candles)
6 - Check daily amplitude before jumping in. Some coin have daily amplitude of 1% some have 10% (some are moving faster and others are in stagnation (higher risk higher profit))
6 - In trading nothing is certain. There is no trader with 100% acurancy. Cut looses and move on to next trade. You did nothing wrong. Its just the one unlucky trade. Think about trading like it is work and lost trades are fuel to get to work. That will help you get over it.  Problem is when there are more lost trades. Stop. Take a break and change strategy or take longer break. Mayby market is in this moment too much manipulated by whale.
7- Dont jump into fomo. You can trade on waves after pomp on panicked noobs :)
8- Buy fear sell hope

Don't trade with your whole stack. If you're going to do it, do it with a small fraction of your bitcoin/dollars - play money. And then practice. Do it for a good while, and then if you're having success, you can gradually increase the amount you do it with.

Acquire knowledge in cryptocurrency first through personal studies or mentorship. If after gaining knowledge then you can start trading,at first with 200 USD before committing bigger more money

When I started here, I have already developed the strategy, what should I do next. I din't have any money to invest than, I just attended to one Bounty, and start my trading from the tokens that I get from it.

Trading is a simple technique if you have experience in this platform you will earn profit and if you are a beginner in this platform long term investment is more secure investment because current scenario is really unpredictable so better invest in long term or day trading you will earn profit. Day trading is a highly risk investment if you have good analytical skills you will earn good profit.

Before you invest any money in trading take some time to read and learn from the experience of others, many have made the mistakes that cost them a lot of money and a lot of lost nerves, so use that knowledge to your benefit from the start. I will not post any links, just use search engine with key words "trading", "bitcoin" and you will find lot of tips and instructions how to start. I just can say that this is not something what can be learned overnight, it takes time, learning, and understanding how markets work. But let this not discourage you, if you have a strong will to do something success is possible.

Regarding money, some will say 100$ is not enough, but for start it will be enough if you can not afford more. Then you need to decide your trading tactics, do you want be daily trader or invest on long term - are you interesting only in BTC or maybe altcoins trading?

I suggest you look at my signature, there is something that may interest you, full guides available on site.

just a selling tip,
Don't get consumed by your greed, don't wait for the peak of the pump, sell immediately if the price reached your selling point. don't be greedy.

I know about trading strategy from some video on the youtube, and i try to sign up in demo account in forex trading to learn about technical analysis. And after i have some knowledge about TA, i try to make deposit on crypto exchange to test my skill. When i started is easy to make profit because in that times is bull market, but after that i loss again in big money. By keep learning i know some strategy, how to diversify risk and to lock the profit and avoid loss, keep learn from the mistake will make use become more expert.

Well, people have already provided you with a lot of tips and useful information :) The only thing I can add is that you will need a reputable and user-frienly exchange. I suggest CEX (https://cex.io/). It has a limited number of currency pairs, but their security is great which is essential for dealing with crypto.

Why not binance or bittrex or even poloniex to start? Because I see that site is good enough for new people, who want to learn to trade. But I don't know if he wants to try one by one of the exchanges so he can find what exchanges that he likes. You can use $100 if you want so you can start trading, but first, you need to have bitcoin or usdt to buy the altcoin. And for making the analysis, I suggest you read the book or watch the videos on youtube.

CEX ? If you are really looking for a reputable exchange with a lot of supported cryptocurrencies that you can trade, I would rather go for the likes of Bittrex or Binance. Why CEX ?

I am not saying CEX is a bad exchange, but when you are comparing exchanges with each other, CEX does not even stand the chance of the top 5 in the market.

As a beginner in trading however, what you should even be doing first is to learn and afterwards practice using a demo site like that of bitmex to get your hands dirty, fine tune your strategy and then get better, while now deciding if you want to go into spot trading or leverage trading which in that case I would rather choose binance most especially.

I will suggest that before any move you should read two books. These books are not just about techniques, they talk mainly about the psychology in decision making. It is very important that you have an idea of why you should decide on something.

https://images-na.ssl-images-amazon.com/images/I/51tkGJGPaaL._SX347_BO1,204,203,200_.jpg
Trade Management (https://www.amazon.com/gp/product/1118443926/ref=dbs_a_def_rwt_hsch_vapi_taft_p1_i0)

https://images-na.ssl-images-amazon.com/images/I/51%2BSG5xTk2L._SX322_BO1,204,203,200_.jpg
The Zurich Axioms: (https://www.amazon.com/Zurich-Axioms-reward-generations-bankers/dp/1897597495/ref=sr_1_1?s=books&ie=UTF8&qid=1540012549&sr=1-1&keywords=zurich+axioms)

After reading, you should make your account on an exchange. They need to have those basic trade instruments, which are:

• Have a graph of the negotiations
• Have a volume chart
• Have a large volume of negotiations
• Allow Stop loss
• Allow Leverage

It is necessary that you sign up even if you think you do not know knthing. Because the best way to learn, it is when you lose money. Cryptocurrencies allow you to start with very small amounts like 10 dollars. So it is easy them investing in stock markets.

Inside the platform, you will already be able to familiarize yourself with several options, tools, and needs. And that will force you to study. I believe that just by subscribing to Bitmex referral link (https://www.bitmex.com/register/4Yl00L) or Binance you can already operate and read the information they provide. Bitmex has a lot of articles and material to study.

Then you can start reading about charts. A summary of some is in this post: Trading Cheat Sheet Collection (https://bitcointalk.org/index.php?topic=4846473.msg47066720#msg47066720)

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The Bitmex link has my referral. You will receive 10% discount when using a referral link. If you do not want to use one, just go to www.bitmex.com

Actually, when I read that too I was surprised. CEX is not even on the top list of exchanges in terms of reputation, interface, or whatever you want to think as there are so many other better exchanges that still is a lot better.

The main thing with CEX is that they offer cryptocurrency trading for fiat money but nothing too advanced when it comes to trading professionally and in that case, I would rather prefer to pick an exchange like Binance with low fees and more cryptocurrencies, as well as the fact that it is an exchange that is growing rapidly.

Trading is a game and you need skills in other to become a successful trader. Since it demands skills to make money from trading it then means you will need practice! Those that have jump into this market without skills will tell you story on how much their have lost in trading.  I will advise you to take the learning process more important than the capital to invest because the more skillful you are the more money you make from the market. Don't think you will make it in trading by following signals services.

Trade based off of Satoshi value, not USD value... USD value can give you a real false sense of security in doing well when you actually maybe aren't.  Kind of hard to explain in a bear market, but when it goes bull, its not really enough just to make money, you need to be multiplying and growing exponentially since your window is very small.

When I started with crypto trading then all I gotten was loss, loss and more loss. I literally tried trading many times with all the different strategies which I failed eventually. However, with the time you get hand of it and time comes when you recover everything that you have lost earlier mate.
I adopted new methods all the time, you dont hit the right one immediately because crypto keeps changing its course all the time. Now I have accepted that one very well and it makes me trade far more easily than the normal one.  :)
As beginners you always fall for it, but if you keep the pace and patience then you can spice up the trade.

I am still a beginner in trading world to be honest with you but I have been a beginner for about 6 years now and never really improved my trading skills to a great level that I could actually live with it.

However, as a person who has been trading in crypto space for over 6 year period (which seems a lot in crypto world since it is less than a decade old but it is still not so much because someone who has traded other stuff like forex and stocks for over 20 years and been interested in bitcoin for a year now is much better than me) rest assured no matter what you do in trading there are very few golden rules that always helps out.

First is never trust something if it looks too good to be true because in the end it is rarely ever true. I have bought and sold more coins than I can count and only ones that really made me money is the ones that we all know, the rest that looked amazing to trade all vanished and disappeared. Go with the top 10-20 coins and trade them, rest are not that important.

Second important rule is to keep your losses to a minimum by either selling out before it goes down or it went down only a bit (stop loss helps in this case) or but a sell order slightly higher than what you bought so you get your profit and leave.

It would be wise to learn first through watching youtube tutorials, googling and researching some good articles about the different kinds of  trading techniques and indicators before investing all your money into trading that you have little knowledge about.

Everybody in the cryptosystem is once a beginninger in  trade. However, If you have little knowledge about trading just find someone that will help or in part knowledge about  how cryptosystem works into you. Crypto is great and profitable if you have knowledge about it.

Trading is the most important part of the crypto world .You can start trade only 100$+ but first learn what is trade and how to create an account any exchanger. First time i have created an account on bittrex and all time follow market and trade history and then search on google and also read this forum every post.You can find every coin and exchanger full details this forum and but some token which down last one week and sell order it 2xprice and wait for sell.You can also start on demo trading its help to develop your trade knowledge

As mentioned, CEX is a poor choice. CEX's most recent accounts show that they are in debt and do not have the assets to cover their debt. The assets that they do have are "currently located in a war zone and are not accessible" (direct quote from their most recent financial statement available here: https://beta.companieshouse.gov.uk/company/08757996/filing-history/MzE4NDczNjEzOGFkaXF6a2N4/document?format=pdf).

They are way, way down the list of exchanges at 78th by volume, with a 24h volume of only $8 million. You would do better sticking to high volume and more reputable exchanges like Binance or Huobi.

I also advise against CEX. I never really liked this service.
The exchange is best selected in terms of the largest possible volume - the list of exchanges can be found on www.Coinmarketcap.com
Of course, fees and service history are also very important.

At the beginning you should start with very small amounts, because cryptocurrency world is a high risk market. To be good in that look for Traders channel here on forum and on Telegram. Read, read and read - it is the key.

Most of the beginners in trading cannot earn money in first week or maybe month they lose some of their capital because the knowledge they have is only a littel but after months it will start earning money. But you need to be patient because not all the time you earn money they have some time you lose some capital.

I don’t have much experience in trading but, I know that before starting crypto trading, one should know about cryptocurrency and its future. Collect all the required information about trading. The more you learn the more you earn and another is knowledge is power. When you have complete knowledge about bitcoin you will trade in better and effective way.

To start off with, aside from the forum, I've joineda discord groups which has so many topics about trading altcoins and margin trading. It is a big help for me to read such informations about indicators and how to use it. I guess as a beginner, it's really  hard to understand well some sort of words so I have made my own research.

But to tell you the truth, my researches aren't enough for me so I requested my friend to take time and patiently teach me step by step in an actual mode of trading so I can really catch things up and learn. Basically, it works fine with me and I've still gaining more wisdom about trading.

If you really want to learn how to trade and be better at it then go trade it yourself and lose a lot of trades because that is when you are going to learn everything. But you have to put only small amount of funds for your trades for you not to lose everything.

I think your suggestion is good for trading platform but beginners are never knowing anything so I would like to prefer read the articles, Youtube video then try to pick best coin is the right move.
This investment is also little risky participation so we should invest in bitcoin it will make good profit in short term, mid term and long term but we must take effort in each and every move for our first trading.

That’s why I always say that trading is not easy. If you have no trading experience you can lose all you money especially in this bearish market. It is much better that you hold your coins for some more time. Getting experience is not so difficult but need time and hard world. It is better to spend some time with an expert; you can get better knowledge and skills about trading.

I would say the problem with most beginners when it comes to trading is that they take a lot for granted and they tend to not realize that if they end up keep having that kind of mindset of wanting to get things done fast, they will never be able to get anything done. Trading is risky, and how you are able to handle the risk is only going to be based on your level of know-how which if you do not seek first, and then try to gain some solid experience afterwards, it won't be a good experience at all.

When I started trading, I took my time in reading a lot of books and studying several things I could lay my hands on the net, and believe me, when I was confident enough, knowing that I can manage myself, I took to practice with demo and that even gave me more confidence with my strategy in which I am doing better today.

I started trading in October 2017, when the cryptocurrency was in the hype. Then I saw how a trader makes good money on trading and decided to try it myself. Of course, I also managed to make money in a growing market, but in the end I lost the entire deposit for correction in February. And only after that I began to study the literature on trading and learn something.

I would suggest you for to go a demo account in forex first to learn technical analysis of charts before coming to live account in crypto, as per my experience crypto price charts are not so robust as of now, although its quite good in some exchanges like Binance. I found trading in cyrpto a bit tougher to forex but long term investment in crypto is more profitable.

As a trader you suppose to have a capital first that's a no. 1 rules especially your just a newbie in trading.
Second is you must have an account in any legit exchange site platform like Binance, Kucoin, okex, coinbene and etc.
3rd you should always start at small capital investment when you buy coins then know the basic rules
Buy at low price then sell at high price, just as simple as that.

I would not say what you need mostly is just trading experience, but knowledge is always the first thing to acquire and it is what counts the most, experience is just a way of building and acting on the knowledge you have to gain confidence over time in what you do and to be able to make quality decision without getting emotional at all.

Getting things right with trading is something that does not come easy, but to come easy, you have to realize this is a profession we are talking about, and there are so many things you will always need to learn to be a better trader over time, and also realize you cannot stop learning no matter what. I actually learned that the hard way, but it was a good thing, I realized that and I was able to amend my ways and decisions.

Then create a account on a trusted exchange and deposit some funds on it. I'm not a TA expert but I do read coins that I wanted to invest and just watch the price. As a beginner, I wouldn't advise you to go full TA, just try to get a feel on how trading works and just go on as you become more experience.

I'm sure that there are a lot of sad stories if you're a beginner trader. To be honest, when I started, I don't know a lot about it, I just try to get my hands right away so there's a lot of miss steps along the way but it didn't stop me. Crypto trading is a long journey, so its better if you take baby steps and learn from your mistakes.

I'm sure sad story is experienced by every trader. of course this must be used as a learning for further trading capital so as not to repeat same problem. so that later we will become experienced traders

In trading we not necesary to have knowledge all thing about technical  analysis,  if we just understanding about some indicator like moving average and bolinger band so we can jump in to trading. And the most important  thing is how to minimize the risk from high fluctuation of crypto by make risk management.

Trading is an inevitable experience. If you buy your cash in exchange of food that's basically trading already. I can say that I have much experience on that but when we talk of trading cryptocurrencies well even if I am already almost 2 years in this industry, I am still a beginner. Probably because I dont trade that much and I am really having hard time understanding the mechanics of the process. I only trade when I do receive tokens from bounties and that's it.

The truth is that it is good to have as much knowledge as you can have and not rush into things, because it is all these acquisition of knowledge that would make you to be able to come up with a good strategy in the long run in the first place. If you manage to discard the part of learning very well, and never stop learning, while trying to practice every step of the way using probably a demo platform, you will find it hard to ever be able to get it right.

I start in trading last week but I lost 0.02 bitcoin in other crypto coins I trade but now I keep holding bitcoin and waiting for a big price to pump to recover what i lost for me.

When I first started the hardest part was to get information about the coins I wanted to trade. I really focused on trading clam a lot because it was used in just-dice and that was basically that, they had no other use for it but at least it had a use.

In bitcoin and crypto world finding a coin that has a use is really rare, things like ripple thats used for blockchain finance stuff, ethereum for ICO reasons, dash for masternode mastery, monero for privacy and so forth is not common, you get coins that say they do something but used nowhere.

So when I started clam was my "niche" and it really helped me out a lot because I memorized what price it is at what time of the day and really took advantage of it. It doesn't happen quite often these days since crypto got a lot bigger but if you really focus on one coin you can really get to know it a lot better.

Knowledge, which is one thing that will always be needed to thrive and be able to do well in anything. Most of the people I have seen today are always in a haste to do things because they just want to quickly get rich and that makes them most of the time, to not be able to take their time to learn, try as much as possible to make sure they are very sound with their decision making by practicing and before you know it they just rush into the market like you said. Unfortunately, they always get to rush out the same way they rushed in and that is how not seeking knowledge can lead someone into not ever getting it right.

Obviously, you started trading without any much knowledge, no form of practice on your strategy to back test it and then you are simply just rushing into the market. Sure thing is this, once you are approaching the market and trading really without any concrete strategy, there is always a possibility of losing something.

Now, I am not saying that loss is not something that you will not get to see over time, because even as a pro trader, you will always get to see losses once in a while, but the thing you should always consider is that, that loss is something you have to be able to manage, and without a strategy and plan, you can never be able to get that done.