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Title: The most important things to know about trading when you're starting!(must read) Post by: l3pox on September 17, 2018, 03:48:33 PM I was commenting to this post (https://bitcointalk.org/index.php?topic=5030933.msg45834449#msg45834449) and realized this subject deserved a topic by its own.
knowing this would save me a lot of money when I began. Imo these are some of the rules that all the people who's starting on trading, crypto and bitcoin should know 1. never invest what you can't afford to loose. no: it's not ok to invest your rent money, to loan, borrow money with friends or whatever. this will make you trade out of fear and as Mark Douglas says in his books this is never a good decision. 2. study study study, read read read, before buying a project. (have you ever heard of DYOR?) 3. know how to identify a SCAM project so you don't throw your money away. 4. understand market cycles so you don't buy tops and sell bottoms https://cdn-images-1.medium.com/max/768/1*HntoPhstONeK4PvTlrptaA.jpeg 5. understand the concept of risk/reward. trading (and investing as well) is about finding assymetrical opportunities. 6. understand the difference between a private and a public key. 7. ALWAYS pay attention to where you're sending your funds. BTC and many other alts transactions are irreversible, you can bur your money. 8. ALWAYS have a backup of your passwords for wallets and your private keys. 9. use a VPN while surfing online 10. don't trust, verify. In your opinion: What are some of the rules/things that begginers should dig into before investing in crypto? I'd recommend you to check Secretsofcrypto post on his rules as well: https://pbs.twimg.com/media/DTCzwqRW4AA1Hvu.jpg:large Title: Re: The most important things to know about trading when you're starting!(must read) Post by: lhung on September 17, 2018, 04:20:22 PM If you want to become a good trader, you should set for yourself a system and do it seriously.
There are websites of crypto that you should know : - https://coinmarketcap.com/ - https://www.tradingview.com/ - https://cointelegraph.com/ And necessary documents to begin trader https://optimusmarkets.com/files/Trading_in_the_Zone_Mark_Douglas.pdf (https://optimusmarkets.com/files/Trading_in_the_Zone_Mark_Douglas.pdf) Good luck Title: Re: The most important things to know about trading when you're starting!(must read) Post by: l3pox on September 17, 2018, 04:23:42 PM If you want to become a good trader, you should set for yourself a system and do it seriously. There are websites of crypto that you should know : - https://coinmarketcap.com/ - https://www.tradingview.com/ - https://cointelegraph.com/ And necessary documents to begin trader https://optimusmarkets.com/files/Trading_in_the_Zone_Mark_Douglas.pdf (https://optimusmarkets.com/files/Trading_in_the_Zone_Mark_Douglas.pdf) Good luck Mark Douglas has some really good books indeed. "trading in the zone" and "the disciplined trader" are must reads! |
