Bitcoin Forum

Hey,

I would like to know some advice and information which will be really helpful in my trading journey. I have invested $500 for the start and I am willing to learn and invest more.

The advice I gave myself in these 2 weeks is that If any of my coin investment is going low in price, I just need to hold and wait for it to come back at the profit level.

I am sure we have traders here with vast experience.
Really excited to learn new things.

I'm personally not a day trader, as my trades mostly span for weeks and months, but surprisingly not that much people suggest the usage of virtual portfolios. Pretty much trading with play money. eToro[1] has this feature, you might want to try it out so you could practice daytrading without losing any money.

---

[1] https://www.etoro.com/

Is this providing money and trading for cryptocurrency or fiat stock stuff? I was actually looking for something like this to create a virtual portfolio to comapre my risks : profit.

You don't need to deposit any money to use their virtual portfolio feature. They pretty much give you $100,000 of play money to trade with. Obviously you won't be able to withdraw the money. :P I suggest using this as you could trade as recklessly as you want just to test things out without actually risking any money.

Nowadays, trading is becoming much easier than the past and you can easily access to any market you want. I suggest you should read more about stocks, cryptocurrencies, and forex. Youtube and online sources can give you a vast amount of knowledge in a short time. And as mk4 said, you should start with a virtual portfolio aka demo account first in order to understand more about trading and you wont lose any amount of your money anytime you become reckless

I suggest ICmarkets. It contains many pair including forex, crypto, metals as well as common stocks. They also provide demo account

I would advise the new trader to learn more about analyzing the market, and if he wants to start trading, the better limit the money before he has good skills to use bigger money. Many new traders use too big money to buy the coin, but they don't' have good skills to analyze the good time to enter the market, and they will end up buying the coin at a high price.

But if you only want to buy and hold the coin, you need to buy at a low price to hold it for some time and sell it when the price increases. You don't have to bother with the fluctuating price, which always changes because you have a target price to sell, and you don't worry if the price is down again because you will buy more amounts.

First, don't be greedy. Always remember that there are still a lot of better trades to come, if you lost a few trades, don't be greedy to earn back your losses, wait for another for a good entry.
Also, continue to learn, don't be stagnant if you still learning or beginner. Avoid listening to other without a proper basis, like if someone told you to buy this, buy that, sell this, sell that.
Keep going! Welcome to the trading world.

Don't overthink, stick to your plan, you can base your plans to everything you'd ever want to, but be sure that such plan actually has the foundation to stay in track, and to do that, you'd probably need to make adjustments depending on the results of each possible movement in the market. I'd also try out what @mk4 said about virtual portfolios, it may be practice, but it can get you up to speed on what to do when trading so you can cross out experience half-way as a problem.

Other than that, just make sure that your $500 is money that can be lost, since if I were you, I'd think of that fund as good as lost already. Mostly to stop feeling any type of emotion that you would feel when losing it, but it's also to help you trade with a clear mind.

You should expect losses, and more losses. 90% of traders LOSE to the better 10% who can do it professionally.

Take responsbility for your own actions. Cryptocurrencies are very volatile, and unpredictable. You decided to trade your $500. Lose most or all of it, don't come back to the forum saying you were scammed.

Know as soon as possible if trading is for you. Most of us plebs are simply not good enough for it.

Remember that day trading and long term trade are far different from each other. As a beginner, copy trading from other portfolio is a nice idea as what give idea above and that is extremely right that using Etoro trading platform is a good exchange to choose.

Well, this is very common question and the fact, you can simply googling it for more information you will gather.
I saw the traders tips article and I guess this will help you. Read this if you have time. (https://www.thebalance.com/day-trading-tips-for-beginners-on-getting-started-4047240)

Its a good amount to start trading as a beginner .I think you should spend more time into the market to get the flow of price .
You just set the candlestick strategy try to understand the movement of the trend.Trend line could be a good be a good strategy if you follow .Research and study more on support and resistance .Hopefully gradually you will be a good trader .

Sometimes it won't be worked i think .I have seen many times market goes more deep and trader making losses to buy it deep .So you should follow all the things related on it if the coin has any chance to bounce back.

Maintain your confidence and willingness to learn trading no matter what happen to your journey. Not everyone succeeds in trading and I am one of those people. At first, I am decided to learn how to trade but as days, weeks, and months pass by I find it hard until there is no confidence , and I can't find any reason to continue so I decided to stop trading. Do not make the effort if it will be for nothing. Do not hurry things. We have a lot to earn in trading. As I have said maintain the willingness because no matter how hard time or laziness you may feel  or how many losses / incorrect decisions you commit during learning on how to trade, if you are willing you have reason not to quit easily. Remeber that learning is not a one day process.

Probably the best advice that I would give to someone that is just starting is that even if you think you are ready you are probably not, I will recommend to employ at east 4 hours per day for 3 months to the study of charts and strategies before you even begin to trade, I know this may seem as too much time invested in the activity but I can guarantee you very few people go through the trouble of employing so much time to think about trading before they even begin and that will be your secret weapon.

When it comes to trading your luck or the size of your capital are irrelevant, what matters the most is your knowledge and that particular aspect can only show improvement if you train very hard to improve it.

I would tell any beginner that before getting into trading, the first thing to do is study the market, apply fundamental analysis theories and technical analysis, trust the books and learn before you trust influencers or academies. That way you will handle your own arguments, and then when you have your analysis, trade with virtual money before doing it for real.

Well holding coins sometimes is not good since you can already cut your losses and make new entry to different coin also I'm not really that expert but I can suggest to you that you should divide your investment to different coin don't just focus on a single coin it's better to divide your investment to different coins.

First of all, you ought to ask this question before jumping into trading though this current market momentum is good for beginners to make profit but you still need to understand that the market will not always be favorable.
In the meantime, i will advice you to read and study information on Binance Academy (https://academy.binance.com/) where you can learn every aspect of cryptocurrency and blockchain.

So you're a type of a long-term trader yet you do just wait for your holdings to have gains but are you aware on how long you can possibly wait when you do deal with crypto? Its unpredictable.

So patience would really be a major thing on this field and if you do make rush decisions or even on panic then that will surely cost you.

Advice?

-Dont be greedy
-Sell when on gain
-Dont let yourself fall in FOMO or Fud
-Dont easily believe on bull or bear calls by somebody.

This is the clear and concise advice for the trading beginners.
And I just want to add something.
As per the OP, $500 seems a huge amount to be starting in the trading field. While on the process of learning, losses are expected and there is a huge chances for a beginner to gradually lose all the capital. I should say $100 is an ideal range for the beginners to avoid lossing too much that might totally lost their interest in trading.

There are a lot of potential cryptocurrencies in the market dude, and you can check at the coinmarketcap. One of the tips that I could give is that if you are thinking long term I think BUSD, LINK, DOT, LEND, XEM, and BNB are the most trusted alts in this field of a business mates. Now if you wanna get some profit in a short period of time I could suggest AG8, LINK, XRP and ETH in my own opinion.

Set your goal.
 This may help you to prevent being greedy when taking some profits.
 And dont get stucked. What i mean ia that there is particular time where in a coin drops and it hardly pump again. Holding for so long is a choice but another choice will be to sell it and choose another coin to trade to compensate from previous loss.
 
 Also, it's always bettet to diversify your trading portfolio so you'll have better trading results.

Right now honestly is not the best time to start trading. The markets are crazy erratic and make no sense. Maybe not Bitcoin or Ethereum itself but the DeFI tokens and any of the stocks on the stock market.

Basically its a pure bull market and pretty much "ANYONE" can make money in this market. And this gives false hope. Basically people make money, tell their friends, who also make money. Pretty soon they are all going to get greedy and take out loans and lines of credit on their homes because they all want to be millionaires. And we all know what eventually happens. Basically the dot com bubble repeats or the 2017 crypto bubble repeats. It won't be pretty.

I suggest that even you invested without any knowledge that's not enough and you know it, right? you must aware that your capital is already in risk, if the expert traders knows that their coins was in gamble similarity and yet they still make a mistake in it how much the beginner like you, are you ready for that? Therefore, as much as possible you study about trading skills and earn knowledge about it too.

Actually depend on which coins are you Holding now,If you invested in DeFi projects?then there will be some critical areas in which you need to be aware.
This is a hyping coins and any changes will depend on the investors either real or Fake investors.

But if you are into some Old coins like Bitcoin and like ethereum then Holding is much enough specially if you invested the Money that you can always afford to lose.

---

Never be too Greedy,just be enough in maximum of 20% per trade unless you can hold Long term then lets change the plans.

I agree with you that greed usually puts us at a disadvantage. A greedy person can never succeed the first advice of the trader should be to gain knowledge about the business. The basics are fine, and starting a business with a small amount of capital will reduce the damage. These traders cannot survive in the market for long if they invest in greed later there are risks to go without getting frustrated and a quick review of the classic and original types of entrepreneurs will help you.

True but mostly when you're trading valuable coins like Bitcoin and probably some well known altcoins (but this isn't a guarantee). With altcoins that aren't popular or having low trading volume or exposure compared to their counter part, the chances of using this strategy and come out profitable is minimum.

Just as you hold and wait also note that sometime you profit more or lose less if you were willing to take that small lose, wait for further dip to re-enter the market or move on to other opportunities. My advice would be to always take profit when the opportunity presents itself don't forget you're trading and not investing.

I've noticed that there are a lot of trading guideline for newbies in the forum but most of times they are getting confused and don't know where to start or what to buy. Take advantage by ordering low cap coin that has good possibility big surge up and always follow the trends.

There are a lot of things that could help you and it varies on your trading style. So I think, first of all is plan your trades. Don't make it a rush to trade and make sure that your conditions are met before anything else and it implies with the rules that you have set as well. With this plan, you would know what to do.

Do you plan to trade everyday or are you going to be busy and just trade for least of the time? I suggest you get a trading bot as well like Gunbot (https://gunbot.ph) and you could trade and check it when you want to. You could set your conditions there and pretty much take care of the rest. It's not an easy trading tool to learn but once you have, you could potentially profit in the long run. The best thing about it is you could learn trading knowledge while applying it to the tool.

Let me know if you are interested with that as well.

You ask about crypto investing & trading advice, it's good enough for you.

There are many things to learn about trading & investing especially in crypto, if, I have to explain and write here for you, I have too much to write for you.

In order to shorten the writing and time, I will refer you to the three topics below:

1. Topic: 5 Tips for Successful Bitcoin Trading (https://bitcointalk.org/index.php?topic=871571.0)
2. Topic: A good advice for every traders. (https://bitcointalk.org/index.php?topic=5208379.0)
3. Topic: Asking Investment advice? (https://bitcointalk.org/index.php?topic=5230154.0)

If, you have time to read and see, you can review it to add your knowledge in trading & investing, hopefully useful.

Buy low and sell high is the basic concept to trade, but you have to know as well which the low price that you should buy the coin. Moreover at the current situation where all crypto currency price then you will see there is many low price that been passed by bitcoin/altcoin. So, I mean if you spot trader you have to know where the strong support in case when you buy the coin then the coin will increase and you will get profit.

There is some important strategy to know, support and resistence, candlestick pattern and you have to know how to draw the chart with trend line and horizontal line. I'm new trader as well and currently I'm still learning about them and greatfully with these strategy I have profit altough it still small but at least I can trade and I can minimaze the risk that I'll be faced.

Someone who was totally new to crypto,eventually had very little capital to get started. So, they are looking to invest in a legitimate opportunity. For dummies, make research before investing. For most importan, learn technical analysis asap.

I think having a 500 dollar is a large amount for making an investment with the trading are you going for spots or future trade?

If you are trying to make an investment with the spots trade which buying a lot of coins when the market price of the coin falls down and hold till the marker goes into ATH.

If you are trying to trade with the future I think it's better to learn and earn a lot of knowledge regarding market trading including stocks and cryptocurrency, but be careful because the market is volatile I think 10 dollars is enough for your first trial.

1. Watch or Read tutorials and books about trading and investing.
2. Make a clear plan or goal for every execution.
3. Don`t hesitate to follow your plan, plan should always be executed.
4. Don`t fall under hypes and easy money scam.
5. Protect your assets by importing it in safe wallets.


Lastly, be sure that you are optimistic even the market is down. Just like what we are experiencing right now. Optimistic in a point that you have a strong bias with your coins because it is really productive and has future according to your fundamentals.

The rest, you will experience it along with your crypto trading journey.

What you said that is very simple everybody knows this simple word but if you want to be a good trader you have to know how to select a good coin first. If you select shit coin from market and hold you will be loser ultimately. So before investing any coin you should learn these coins roadmap, market volume, team connectivity and finally market coindition of that coin. If everything goes well you can hold that coin if price goes down. so my suggestion is read and research more and more before investing.

thanks.

As a beginner, I advise you to dive deep into the trading market, and learn everything you should know before starting to trade! The second advise is to use a trading platform that is safe and secure. Personally, I use ProBit Exchange!

First thing you need IMHO is a clear understanding of the difference between a trader and an investor

BUY and HOLD is investing and for that yes you could do your typical fundamental analysis and check for the coin/community and all the basics

But, if your aim is to be a trader you should concentrate on learn Technical Analysis (TA) and read charts because your aim as a trader is to capitalize on the market movement for a particular time frame...

What you really don't want to do is be a trader that becomes an investor because he place a trade and went in the opposite direction, that would be your biggest mistake.

Dollar-Cost Average is a good technique to use and it will give you some buffer but you should enter the trade with a plan already, and keep in mind that most traders really don't even like that.

Is very possible that most traders would advise you to "cut your losses" and move to the next trade... and is perfectly fine too.

Usually with a good edge to enter/exit you should keep your risk always low, say risk 1 to make 2 as a rule of thumb

There is no way to win all the time in any trade, you can not predict what's coming but you should be prepared always before you even place a buy.

TA and indicators are a good guide and some of them will give you an edge, but money management is key.

Fear and Greed are main factors so be prepared for an outcome but expect nothing, whatever happens you had a plan in place, that's the best way I know to help with your emotions, the other is with a bot ofc. :)

But even with a bot my advise is to keep learning bots are good tools for automation and emotionless trading, but you still need to tell the bot what you want to do.

Hope it Helps.

Well, this is true. When it comes to optimistic it is a sign of courage on me. As a beginner, --you should have courage in trading to make it successful and profitable at all times. You can also focus on your game plan and not to lead in a wrong decision which made you a sudden loss. There are too many factors to consider if you are a newbie in trading. I suggest reading more on this thread and also study what is stop-loss and how to make a technical and fundamental analysis. Donnot be hurried in trading if your skills are not enough how do trading, just have a trial and error with a small amount that you willing to lose, once you become an expert, that is the time you will use huge amount.

In my opinion, beginner traders should practice more, being able to use websites that provide virtual trading features if our funds are indeed
limited. Because increasing trading practice can train our patience when trading, because having patience is important when trading. Without
having patience it is difficult to become successful traders.

Trading does really need time and pure experience for you to be a better trader.You would really be undergoing lots of trials and errors along the way since you are just starting up then its inevitable for you to
have loss most of the time and thats part of learning process.

Just dont rush up because people who do tend nor prefer to make shortcuts are the ones who do commonly make mistakes.Dont get easily get on FOMO or Fud because these are factors that would
highly affect your profitability.

Always stick into your own analysis and it isnt bad to get some key or hints on co-traders but dont fully rely on them.

If I was starting now, I would have expected someone to tell me that it is not that easy, I know you are seeing people making tons of profit right now, but the ones who say they make money are the loudest ones. Why would anyone who gets into crypto trading with 100k and leaves with 20k come here and talk about how he lost 80k, sure there are some who does it to blame crypto to aliens who wants us dead or whatever, those idiots do exists, go check gambling section there are tons who lost on gambling and blames casino (like casino suppose to want you to win) however they are minority.

People who turned 20k into 100k however will come here in bunches, they will talk about how they are awesome and how crypto is awesome and what they are doing next and why you should do it too. Do not listen to them or care about them, those things happen rarely and you just have to be patient.

That's true, without this plan everything will end into nothing for sure. Moreover, they also need to feed themselves about the knowledge in trading and the coins, they like to trade-in too. Having enough knowledge and idea could give extra confidence because you know what you are doing as an individual trade as well.

What? Then if the trader you copied the trades from loses, you also lose? Is that a good idea? NO, it's actually a BAD idea. That's the worst advice given in the topic.

Copy-trading is for inept, lazy people. eToro is mocking you.

The above replies are good enough and I hope it will brings your into the right path.
But there is one thing I have to give, don't take trading seriously. Promise, it makes you addicted when you have been doing it well, and soon it changes your attitude and becomes greedy which could be a reason of your failure.

And don't put all your money in trading, this is not a thing we can assure of even though you've been doing it great. Have to keep in mind the risk in trading and much better to have back-up rather than losing it ALL for just a minute.

My first advice learn and keep in your mind that you will lost your money. Do not follow that trading signal channels that promise to give you 20% and more profits most of them are scammers. As beginner , avoid trading in futures  it is so hard . Try to trade with spot and my last advice watch-out scam trading exchanges.

So you want to buy a coin with an amount of 500 dollars I think you do not need to get deep learning regarding trading because at the end of the day you will hold those coins.

[1]The only thing that you could do or I advise is to watch the market price of the coin if you think this is the right time to buy a coin go for it and if you feel don't.

If you still pursue learning regarding reading how to make a good trade you can easily make an investment with the trading indicators so can help you makes good investment timing.

[2] if you would like to make a daily trade with the use of the market movement it requires a lot of knowledge and skills so better to focus on this because we are talking about money.

i am prefer to avoid trading channel which is promises give us profits. i am sure the group owner only create hype coin and buy it before member follow it. i am ever be the victim on trading signal , and now i am prefer to join telegram group that discuss about why token or coins will fly.beside give us profit it also improve our knowledge.

If you are a beginner then don't be a trader in this market. Be a holder of btc and eth. Or top 10 coins. Because in this market traditional or experienced trader makes loss. Even i am 100 percent sure 99 percent of people got liquidation in recent dump in the market. So holding bitcoin is good. Because here is so many price manipulation.

IMO if $500 is a good start and if that amount to you is affordable whether you profit or not. Focus on trading with one specific coin and the best coin to do that is with bitcoin.

Be familiar with what's happening.

And when you think that you have now the idea of fluctuations and risk you are getting when you trade, it's your decision to diversify and try trading with another crypto.

I need to understand the market even learn all crypto markets for almost about 5 years, nothing short to learn let alone analyze with just 2 weeks, start trading for the first time, if you fail let alone experience a loss, don't mistake it as a failure, learn what wrong so you can become a trader who can understand the market wisely and well, you can use small capital to trade or use a demo account, I think that's my advice for you, try starting from a small capital, remove your mind from big profits, still focus on learning to understand the market

Small entry points never really makes you rich, know that before you do anything so that you do not expect the worlds from crypto trading, without that knowledge you will do stupider things one time after another. If you get in with something under 1000 dollars, you are not going to make a huge amount that would be even considered a living wage, if you get in anything under 100k you are not going to have anything life changing.

Crypto trading could make you 50% per month but that is not sustainable, you can't do that every single month, but having like 5% per month is not really unrealistic, which means in a 500 dollar capital, you will have to be patient to reach levels that could actually be considered big. If you want to turn your 500 to 2000 in a month, you are going to get upset.

I will advice you to always set stop loss on any trade
Always take profit strictly too
Take loss strictly too
Believe in your logic
Be patient before opening position
Dont be greedy
Dont use too high leverage.. Its irresponsible.
So all these and you should be successful

But, plan without an execute is just nothing. You have to make a plan and how to execute them afterwards, people can make a plan so easily but they don't know and don't remember how to execute the plan properly or even try to do the plan. You probably have heard "it's easier to said than done" it's how much what happened now.

If the newcomers can be given any advice about trading in general, it is to say that they should not make any decision about trading out of emotion and manage the trade as wisely as possible so that the borough does not get into any trouble later. In general we notice that new trades are always emotionally settled and the risk is much lower if they are aware. One of the most important things is to have a long lasting experience.

Firstly, you have made yourself dedicated to holding your coins even when it goes down. That's 50% of what trading should actually be! Congrats! Next you have to learn about market analysis, and how it works. You might need to sometimes copy trade from experts to know their experiences as sometimes experience>knowledge! You need to have patience, skills and trust on yourself and your portfolios. Do good research on the coins/stocks or commodities you are investing in as well.

The best advice that I can give to a beginner trader is to invest first on education. Trading is not easy, and it takes time to learn the proper trading method.

$500 is a large start.
I started with just $100.  ;D Just to try it out.

At first, I was good at it. Beginners luck maybe.
In the long run, profits get cold.
I think what you need is patience here. Don't try to be greedy or you will end up with most of the starters out there.
Rushing to make profits and making bad decisions.

First of all, I think the advice mentioned above is one to try to stick by, specially since the market has become in such a volatile low downtrend, holding is key. Second of all, I see a lot of advice has been given using virtual trading which I personally don't encourage as with trading the real value is that you're playing with real money so your decisions aren't as weighted as they'd otherwise be.

Lastly, try not to get too hung up in the trade analysis charts, yes this is important but it can be daunting for somebody starting anew, just get up to speed one step at a time. Also, don't go with leverage unless you really understand it.

The bottom line is that did you research well before deciding to invest in that particular coin? is the coin a good coin with future prospect? and not those pump and dump coin, if it is a good coin don't worry about the price declining now the present drop cuts across almost all the cryptocurrencies probably a major price price pullback or correction is being experienced, the choice of hodling the coin is the bet for now after the price correction a massive pumping of the price is imminent definitely you earn some profit in a long run.

Advice :
1. LEARN. Learn from legit guru. Guru that proven. You can check their trading portfolio (minimum 1 year) for your consideration. Legit guru will be act as your supporter, friend and mentor.
2. Risk Management.
3. Time. Time for learning and improving.
4. PATIENT.
5. For real trading, Use money that you can afford to lose.

This is called the survivorship bias and it is one of the most insidious logical fallacies that you can find, people for the most part only care about what they see and it is obvious that in this forum winners are overrepresented, because as you say if a person is able to obtain great profits out of their investment they are going to come here and they are going to be very loud about what they did to obtain success.

But what people do not see is that for each one of those winners there are at least nine losers that never come to the forum to talk about their experiences and this gives the illusion that everyone wins in this market, when we know that this is simply impossible.

That's right. Not all it becomes impossible if we are willing to take the risk and challenge our self to learn more and not just to be contented of what have learned by now. Trading couldn't be an easier thing to start with but if we are going to make it right and make benefits for this, we have to work on it. There is no shortcuts for this and of course, it takes days, weeks, or even months before we are getting ready into action.

And a thing that we should remember as a trader, we have to fully control our emotions and don't get FUD.

Don't do the above, this is very risky for beginners, it would be better if you want to invest so just buy top coins and learn market movements with your technical analysis knowledge. If you want experience then you can do it because who knows it will make a good profit, but I have to say that the risk is huge and takes up a lot of your time. Maybe my advice is to enter a market like xrp, btc and some other altcoins that have manipulative markets. The market will force you to move with dominance demand, this is very good for trading experience and you can understand to choose a good market, this is a bit extreme but in my opinion it is worth it. While here many users have already provided advice on trading basics, strategy and management planning.

And never become demanding,be enough for 20-30% profit each trade.

Don't become Greedy and always learn from everything you are entering,either buy low sell High or Buy low and sell at small losses when chances comes to you.

Right now, you're not really trading but you're simply investing since you're just buying and holding for an extended period of time till whenever you're in profit before you can sell. That aside, I have some advice that might improve your odds.

Learn and understand what both technical and fundamental analysis entails.

• Fundamental Analysis: First you need to find an avenue where you can get fresh news about the crypto market (crypto markets reacts quickly to news whether positive or negative so you have to keep it in mind). Some tools in your fundamental analysis toolbox:
  
  i. News site that is updated frequently like coindesk etc.
  ii. A calender app with events for majority of the cryptocurrencies. You can use Coinmarketcal for that. You simply check events in future that can drive up the price. These includes events like Mainnet launch, new releases, partnership announcements etc.
  

---

• Technical Analysis: This is a very broad topic which you will have to spend time to learn and practice. It might take you months if not years to get more experienced in with it but in the long run, It'll be worth it.
  
  Some TA concepts you should get familiar with:
  i. Candlestick patterns ~ For a start, you can learn the common ones that entails a bullish or bearish price action.
  ii. Drawing tools - support, resistance, trendlines, trend channels, Fibonanci retracements & extensions, triangles etc.
  
  iii. Chart patterns: there are some chart patterns you should be aware of like head and shoulders, double tops & double tops etc. It might not be work everytime but knowing them will increase your odds as they do come up in chart every now and then.
  
  iv. Technical indicators: RSI, Bollinger Bands, Moving averages are some of them. You have to know which ones to use for specific markets ~ some indicators works better in different market conditions like trending or ranging. You need to know which ones to use and when.

---

Aside from Technical analysis and Fundamental analysis, here are some other concepts you should know as a trader:

1. Risk management: How to effectively manage your risks to ensure you're not losing more than you can afford to lose.
2. Have a trading plan and journal: important in the long run.

---

In all, it will take time for you to become used to these tools and concepts. But you should keep learning and improving and with time, your efforts will pay off.
 

I will give simple advice, so newbies don't think crypto trading is complicated. My advice for newbies is use money that we can
afford to lose, be patient, and don't be greedy. Just run first 3 points which I have already mentioned. I am sure that newbie
can succeed in crypto trading. If these 3 things are successfully mastered, then start to the next level. Namely studying technicalities,
such as technical analysis, fundamental analysis and risk management.

Start even with a small amount of money as newbies are still prone to losses than gains. Do not be easily discouraged if you lose your money because trading is not just winning profits but also losing some. And never get into trading if you are not ready. Take your time first learning all the basics through reading articles and watching demos. Of course, start with a demo account first so you won't be upset if you lose suddenly.

Studying trading analysis could never hurt you, doesn't mean you will instantly become a great trader but it also can't make you any worse neither.

Study them, learn all the charts and indicators and everything, use them to your advantage and you will be much better than how you started. Secondly talk with people, you do not have to agree with them or even believe what they are saying is true, there are plenty of wrong people out there but at least talk with them and learn what the market sentiment is, price is ran by people and that is why learning what they think is importantly.

Lastly do not go overboard with your investments, investing into a whole new defi that promises 100x return guaranteed is a risky one, and probably scam, but buying bitcoin could only mean you will either lose tiny bit or profit tiny bit.

The most important thing we need to acquire before others are to be patient. It could be easier to think but definitely the hardest thing to do. All the things can be changed and the future of our trade, not all traders have this attitude that is why many had suffered losses than to succeed. And besides, trading couldn't just be acquired and complete in a day or two, not even in a week that is why patients have placed an important role in trading and even in the other field.

btw, you have sufficient capital suitable to start trading and that's good IMO...
A little advice from me, when trading you have to be fully aware of that, don't be tempted by the market, make transactions when you are sure and don't buy when the price is at its peak, vice versa don't sell when the price falls.

^ Patient and self-discipline are the most important. These would be the ones I would give advice to them besides that technical analysis which is the major thing that newbie traders to consider. Being a new trader, there is nothing to hurry upon doing trading, just explore your self in trading and if there is a demo trading feature on an exchange, you can also join and practice. That is the best practice before you will use a real fund on trading. Trading learning is not just a day to study, it is acquired to have several weeks or months much better. If you can afford trial and error then you can rush without skills in trading.

Since you are new here in crypto space and willing to start your journey in trading skills, I can give you a platform where you can practice trading and also can earn too. If you wanna know how? here is the link https://nominex.io/?r=21375 you can sign-up there for free, once you have an account over this platform you can participate in the Demo arena where the platform can give you a balance of 10, 000$ and you will see this in your balance, but can't able to withdraw it. All you need to do is to use that balance in any of the coins there that you want to trade-in. Once you are one of the participants in the Demo arena you need to become one of the top 30 traders so that you can receive a reward.

It is never possible to trade without skills must have adequate knowledge and ideas before trading. The best advice for a beginner entrepreneur is to control your emotions there are risks involved in trading so don't be discouraged and try to move forward patiently. Success is never achieved without patience and hard work you have to learn the trading techniques. Try to update yourself over time understanding the difference between trading signals will make trading much easier.

I will advise a newbie to avoid scam exchanges and all these small exchanges that are not yet known by anyone.

It’s best to stay safe since they are still starting and only be making use of exchanges that are already very popular, because if you keep going for any exchange you see, you will just end up putting your money in the wrong places. And they should be aware that there are websites that are owned by scammers who try to imitate the real ones so that they can lure noobs or people who are noticing to send money to them, and it’s not just your money that will be ending up in their hands, but your information as well.

Learn about technical analysis, and based on behaviour of the market make your own trading strategy. I am focused on a short term trading, because this market can make too huge ups and downs on a long term

Learn how to predict the market, because more the precise prediction more will be the profiting out of different trades. Know the technical terms and follow the experts in trading. This will help you have an initial point from which you need to create your own portfolio for trading. Once you develop confidence try to do trade with small funds, and the continued practice will help you move forward to the next level.

I agree, the idea of holding your coins no matter what could apply to bitcoin and maybe to ethereum as well but I will not apply that strategy to any coin that has less than five years in the market, it is simply to risky for any investor and as you may guess that strategy is even more risky for newbies that do not really know what they are doing.

But I know that those newbies are never going to listen to that advice, despite their lack of knowledge they are full of confidence and they think they know better and while that kind of attitude can be positive in many aspects of your life when it comes to trading for the most part it leads to huge losses.

If you are a holder, I advise you to practice the virtue of perseverance as well as confidence in your decisions. There were many times when I decided to be a holder but didn't believe my judgment from the start. To become a successful holder, you need to determine the level of loss as well as the profit you will sell if the price goes up that range. Do not be too blind to listen to fomo of those who come before. Those are the experiences that I want to share with you, I have been a holder for 5 years, hope it helps you.

Learning how community reacts is a lot more important than learning how the charts are moving. People are the ones that changes the prices, they buy and sell so they do end up making the changes in the prices, which means you need to learn how to read people and market sentiment.

If you see something that could change people's minds and make it go down, react that way, if you see how charts shows "it should go down" do not believe the charts, check what people think about the chart, that is a lot more important. You may think that a chart that shows price should go down, should mean people will sell, but sometimes that just means people will buy thinking it is bottoming out soon. People are wild, they are usually unpredictable, try to guess what they will do.

I can only give few advise to new traders. First which is very important that don't be greedy in your trade and only choose good coin
Don't enter in hype or fomo. Never buy at top. Also don't take leverage trading and be in spot trading because if you took leverage it can give you totally liquidated. Also research before investing any coin. So these are few things a new trader should follow for risk management.

The journey has begun, and your determination has something to do about you becoming a good trader. Trading involves risk, however optimistic you may be prepare to loose once in a while, get Connected to virtual portfolio, trading is easier now a days, ofcourse you can trade with just an app, I will advice you not to start trading for people yet, get it right yourself first. You may also get more tips on how to be a successful trader on youtube...Don't stop enquiring.

If you are just starting to trade, then you should not use margin trading and futures. Block these sections and never go there in the coming years. Margin trading and futures are designed for experienced traders who, despite their experience in trading, also often receive losses.

That's right you need some patience when you're investing and don't just wait for it to have a decent price, also look for any development or market movement of the coin so you will know what entry price you will input. And just a suggestion don't put all your money into one investment make sure to invest it in different coins so you have a variety of assets in case the one didn't do well.

Trading is the good way to make money but it is so risky for new traders. I will suggest new traders to trade on demo account. More market analysis is needed for being a good trader.

They'll never find it hard or easy if they never have tried it. Of course, no one gets perfect at the very beginning, we all suffered the consequences that we afraid of but keeping these mistakes makes us learn and improve ourselves and strategies. Because if we feel about worries and doubts about ourselves, definitely we never have the courage to take the risk as well.

Trading needs commitment and strong minds. These things will help us to decide the right thing to do.

I agree. Once you're done studying the theories of trading then you had no choice but to do the next step which is actual application. That is where you will learn even more. Yeah! There is a high chance of making mistakes along the way but don't stop. Failure is a part of learning so be courageous :). As long as you are following the "Buy low, Sell high" principle then everything is gonna be alright.

My advice for new or even those feeling new in daytrading, invest with bitcoin first. Don't suddenly jumped on defis or new sprouting tokens because they are more complicated to handle.

As a beginner there are lots of things you will have to learn. The first advice I would give to a beginner is that they should start small. I do understand everybody has their personal problems that they are dealing with and they seem not to be able to have patience and focus for a while, because they want to make money and get rich quick and start tackling their problems, but slowing down and focusing for sometime might really help you a lot in future, best to endure now and enjoy tomorrow.

Like a newbie that was asking in the altcoin section of the forum how he’s going to get a hundred times of his investment, he’s in a hurry to make the money and forgetting that he should calm down and learn some things first. The next thing I’d like to say is that you should avoid cryptocurrency that are liquid, with these ones there are no chance of you hitting a big return on investment.

For a starting trader,  you must first focus on learning about certain things related to trading such as the currencies you wish to trade to better get familiarization on such coins to also know what suits your budget and preference. Learning must be the first stage you must know and acquire before doing an engagement in trading. You must equip yourself first by lots of knowledge about the market and how does trading works so you would not end up wasting your money and time. Keep yourself updated into the latest news and happenings about different markets if you wish to trade on both crypto and fiat. Start at small base to test your trading capacity and challenge what you have learned from the sources you read or watch for acquiring knowledge at the first stage. Just start slow and do not put all of what you have. Just put what you can afford just like doing investments.

If you want to start things right then doing this is the right thing to do.

Practice and check if your attitude is capable for this business, though there's a big differences between real money and demo
account but the experienced with the market movement still the same, if you are comfortable and you see that you got the chance
then use your real money and experienced the actual actions.

This is not a wrong advice but I think it's a bit unfair to those who likes using other exchanges. I know that binance is the best exchange, or so I heard and I agree on that part. But we also have a lot of other good markets. Haven't tried uniswap so I can't say anything just yet.

Well, being a trader is not as easy as eating candy or something. You need patience and everything. Every steps you take will be reflected on your trading. Practice makes perfect and so experience, gain lots of them and you should know where to go with your trading.

The advice I can give to beginner traders is to start learning about the basic rules of crypto trading, after that choose a popular
and trusted trading platforms. Next start trading with a small capital, learn how to analyze the market, choose popular coins when
trading. And lastly and most importantly don't trade based on other people's signals.

Indeed.
Although I use it quite often, it doesn't mean that it is the only exchange that majority should take.
It has a wide community but that doesn't mean that that's the only exchange that everyone should go.
It's like comparing Android and Apple to each other.
Feel free to try any other exchange, but don't stray too far because there are exchanges listing fake volumes.

Same here, I strongly prescribe to do a novice trader. Being patient at the start and get into the market slowly. Various things will drop over various times. But, do your practice and wait until you have the money to throw in at the start.

All of what you say is a good advice but by far the most important is to not use leverage, leverage can be very attractive from the point of view of a newbie trader as now you can make a lot of money with even the smallest movements in the market, this can make them think they can make a fortune in a relatively short amount of time, but what they do not get is that leverage works against you as well and you will need risk management strategies to mitigate that issue.

And for the most part the way to do that is to reduce the amount you use to trade, but you could get the same effect by using the same amount of money with no leverage which show us why leverage is completely unnecessary except for the most expert traders in the market.

without proper knowledge never try to do trade. it's not so easy, but you already started to do the trade! You need to do trade with a small amount first. before starting with real money you need to do demo trade that I like and advice also for a newbie at trade. in this way you can learn without losing you capital. Hitbtc demo website is good for this, here the link https://demo.hitbtc.com/

I also suggst you to know about technical analycies. from here you can get some tips also https://www.youtube.com/watch?v=ofwtsc20hOY&list=PLvkpxFSTppmnQ7A5DP386zEKU0Tv_fatm&index=2

Derivative/future trading is really dangerous for new trader, I felt it when I was newbie to trade. Indeed, I spend $100 to start but I use 20x leverage for my all trading system and finally I lost all my money and it was worst. Spot trading is really suitable for new trader, especially if they use bitcoin although the bitcoin price drop they still have a chance to still hold the coin and wait until the price up again and they can sell it, so they will have a small risk to lose money and also they will learn every wrong that they made for the next round.

First you need to give a lot of time to learn more. Explore the internet to know more and more about trading.You have to be Realistic About Profits.Always start with small and then when you will learn then go big.
Pick a Day Trading Market .I will recommend Binance as it is best for beginners.

Its very risky for someone who doesn't have much trading experience and knowledge to jump on directly to leverage/future/options trading because you would definitely lose up money on that case.

Better to do spot trades on very small capital and try to grasp things up until you do able to know the basics.There are lots of tools that you can use and there are lots of analysis and strategies that you can

look from other trader but don't fully rely on it because not all things that do works on them works for you.So this would matter on how you do make your own as long it would be profitable

then you are doing just fine.

absolutely true what other user said about leverage derivative and future.
this is not trading but it's just gambling. and in the long term you're going to lose your money.
use a demo account to learn more about functions of a trading site. it's always better than start directly with cash.

Newcomers usually come to the market without any skill to make money soon after greed so they are more at risk. I agree with you that the first thing a good trader should do is to analyze the market well. Having a good knowledge of the market makes trading risky. Also invest small amounts as the market is not stable no one can say when it will go in which direction even if the price of the currency goes down trader will not suffer much.

I agree, its better to start using a demo account to understand well how trading works, this way you can gain knowledge on what to expect if you try it in actual.

For newbies have lots of patience and dont be greedy. You cant get a result in snap, it takes time and need a right timing either when buying/selling. Keep in mind that all pro traders are once a newbie too so if they succeed you can too, just never stop learning to improve your skills.

Thank you soo much for interesting in crypto trading platform  with a $500 handsome amount .  From my trading experience i will suggest you a biggest point which is do not started with future trading. Because its profitable but risky which is not for beginner. I suggest you to choose spot trading. Because it will be lower risky. For your success i will suggest you to choose a best exchange and find some most potential coin and invest them with spot trading and wait for price pump and take profit. If your choosing currency gone dump wait it hold it don't panic. And when it will up again take your profit and try to invest another. In this process try to learn about more trading option. And gain knowledge about trading then you can use other trading option. I hope you understand. If you want to my opinion about any exchange i use binance exchange. In my point of view its best for me for its security. All the best for your trading journey hopefully you will get your best.                                 

You should first learn how the market works. You shouldn't keep your expectation very high based on the fact that some people made millions over night investing in crypto currencies. $500 sounds like a good amount to start with. Try investing smaller amount of different coins. You should also get to know how the trading platform works so that you don't get confused or anything. Like mk4 suggested, you can try etoro and their virtual trading currency that has no real value and you risk nothing. You can understand how everything works, but remember, those are play money and you receive it for free. So you don't have any risk and your decision won't be the same like you would have taken if you invested with real money.

Of course before anything else, you first need to educate yourself first on how does the market runs and make yourself knowledgeable about certain coins to better know and to choose better the coin that you wish to do the trade. Basically, you need to learn the basics of doing the trades because if you would just keep on depositing money to do trades, which is your money is at stake on a certain coin which you do not know much about, you are simply putting your money into a gamble for not knowing anything first before you do the act. Before engaging into any trades, assure that you know the coin very well and of course the market for sure you will not just be reliant on a certain coin. After you have fully known how the market works on various coins, then its the time you do trades. Educate first, observe,  then do the act. Do no jump into trading without knowing anything. Remember you wish to do trading and not gambling.

This is really the gold tier advice that a newbie needs to hear from anyone because if you know how things work in the field you are entering you are going to have no problem at all for you know you're surrounding and you're playground and second most important thing is be comfortable with how you do things, things won't work out well if you are doing it uncomfortably so keep in my to have confidence and be comfortable to what youbare doing.

Most of the newcomer in this industry of cryptocurrency is always thinking quick profit even they know to themselves that they don't have any knowledge about it. But because of greediness, this pushes them to go through with it, we're in the end always lost their investment, so better to learn first while practicing themselves in demo trading first, just a thought.

Before starting the trading, a beginner first need to learn the trading strategy. To study different markets are very much important. A beginner can follow the successful traders and learn how they tackle different obstacles and situations. Then he or she can start short trading with small amount of investment. Gradually he/she will gather knowledge and experience and can be a successful trader.

Honestly, trading strategies rarely work with crypto trading. Been following many charts and predictions on TradingView on a weekly basis for years and, besides very very obvious patterns, most of them don't really follow up. Even top traders miss a lot of times. The immaturity of crypto markets makes trading a constant experience of unexpected events.

For beginner trader I can only give few advise
1 keep learning about market
2 gain your knowledge about coin
3 never take margin like 2x 3x or 50x
4 keep away from taking high leverage trading

Without a doubt trading with a demo account is going to help you at the beginning when you are not familiar with the platform you are using but even then there are limits to what you can learn with a demo account.

For example with a demo account you will be able to employ your strategy perfectly without second guessing your decisions because you are not losing real money but once you being to use it you will be pressured to get results and if you lose a few trades in a row it will be very hard for you to use your strategy effectively especially if you are a newbie.

There are some few guys and gals who reached out to me saying that they want to get started in cryptocurrency trading. I asked them first if they want to trade everyday or just long-term holding. If they want to do day trader, I usually give them advice by watching Youtube videos about the basics of day trading, and read some useful information here on Bitcointalk.

Google and Youtube are our best friends in finding information that we want, especially in getting started for beginner traders. It’s just that I don’t have all the time to teach them, but I want them to be self-resourceful.

Everything is already available and can really be checked and searched online but people are just too lazy to do even this basic stuff and even if they are just starting they do really rushed up to things
to make it profitable which is really very wrong.

When Im still new to the market then I cant really deny that we do love to rush things on making money but as soon you do able to experience things then you will gradually realize things.

For beginners out there then take your time to learn up even the basics first then try to minimize the risk as small as possible then it should be fine.

Training and patients are key resources to become a successful trader. I have read so many articles and realize that you need to study hard, the different market types and how to interpret them.

Depending on what kind of coins you hold,
If you hold shitcoin then the price will continue to fall and it will be very difficult to return, the worst possibility is that the project will die and eventually become a scam,
If you are holding a major coin, then holding is the right decision and waiting for the price to rise again and reach a new ATH.
Major coins I mean are coins that are ranked in the top 20 of market cap in Coingecko or CMC.

I believe that non of us here just come at this platform without any knowledge what crypto is. I do believe also that being a member of this forum could help you a lot by getting information in the past experience of our co members on how they deal with their first trading of cryptocurrency. And as always being a beginner in trading you must not only equipped with knowledge of what is crypto is but you should also study the market and how could you play the game without taking so much token to risk for.

Adding  here is the proper monitoring once put in exchange and plans to trade, we should be aware on how to take advantage on short term progress as it is what is in and in hype now and it is somehow risky to do, due to the fact that it's hard to determine whether that project is over or not yet, so taking consideration of putting amount limit and being able to monitor the news, chats and charts can help us trade properly thru hype, we should not only let the whales win during this hype.

A very good point of view. Patience is the obvious way to hunt the success in trading. However, some term you should follow like invest in yourself. By this way you may learn how the markets work and how to make better educated traders.

Good advice, you do not want them to be dependent on you for their learning process, let them learn on their own and if they have some doubts then they may come to you, a person they trust, to dispel their doubts.

However it is also important to warn newbie traders that day trading is by far the most difficult way to trade, it is also the most profitable which is why it attracts so many people, but the difficulty of it comes from the fact that you need to know your system like the palm of your hand and even a delay of a few seconds between your decisions can make the difference between making profitable trades or losing money in the markets.

Simple but golden rule, " Never risk more than you can afford to lose".

first of all i'd give an advice to make your own checking list, which you will follow and consider credibility of each projet you plan to invest  and trade in. as for now, defi projects are most hyped and interesting - as for me i prefer to choose dex projects

besides, i'm watching just now an interesting stablecoin dex - xsigma. looks credible, backed by a public company and have a team from Ripple and amazon

Study everything about trading. Be confident and have discipline and a plan to follow. That is all you need to have in order to be successful at trading. Learn how to manage your risk and capital and you are all good. Remember a big percentage of trading is about testing your patience and emotions never let yourself lose just because you lose one trade. And the most important rule DONT BE GREEDY.

There are some advices which i want to give to new traders are:-

1) He should analyse the market before he jump into trading.
2) Try to gain more & more knowledge related to trading , which is available on different platforms.
3) After gaining knowledge, he should practise paper trading(virtual trading), there are many platforms where you can do paper trading.
4) You should have your trading plan & follow that plan strictly with discipline.
5) Don't greed, if your targets are achieved then simple exit from the market or you can use trailing profit.
6) Must use stop loss , many traders hold their trades when it is going opposite to them & they think it will recover from here, as a result they exit from a market with a huge loss.
7) The most important thing is that you should try to save your funds , you should try try to avoid loss as if our money is safe , we can trade again.
8) You should wait for perfect entry, no need to do more trades but you need to do quality trades.

These are some points which will be useful to a new trader but these are beneficial when any person follow it properly...

I propose you should peruse more about stocks, digital currencies, and forex. YouTube and online sources can give you an immense measure of information in a brief timeframe. I wish I have constantly to recuperate my misfortunes back in my day exchanging days however. I just took in certain instructional exercises in YouTube and they showed me the utilization of exchanging apparatuses particularly in Binance.

From the little experience am having in trading as a beginner there are lots of things you have to know which I will like to mention few,
1. You don't have to be greedy always know when to exit the market and take your profit
2. Don't trade or invest what you can't avoid to lose
3. Always make sure you don't borrow money to invest in Cryptocurrency
4. Don't just invest in anyhow coin always make your research first before buying an coin
5. Don't FOMO etc
There are other things you will have to know but you can do more research and findings about it.

That's right. I agree, its not easy to trade especially if you have not enough knowledge. There's a lot of topic about in trading here in the forum, if you want to have guide in trading you can watch in Youtube tutorials. I'm starting to deeply study about crypto trading but its really takes a lot of time and dedication towards you're goal if really want to learn about trading. If you just plan it but not executing it properly, nothing will happen. Free demo trading platforms will help you to practice your trading. Learn to properly set the right indicator and right timing of entry and exit.

If you are new to knowing I suggest reading to take classes. there you will get a lot of learning about trading because of course it becomes an important point that this business has a high risk.

• Buy trading book
• Join Class Trading

Don't just read on the internet, you will find it difficult to have insights that can be learned. I think the investment by taking the class is worth it because we can learn from the experts

Lately, I got someone who reached out to me that he still a beginner in trading and has no clue on where to begin as he is so confused. The advice that I gave to him was to spend some time in educating himself to learn the basics of trading. I also advice him to be self-resourceful by looking in to Google, Youtube, Bitcointalk, etc., to find some content related to trading.

I also suggested him some platforms like Newscrypto to learn crypto trading from beginner to advanced level and gain access to some tools plus the demo trading simulator. It’s better to practice trading first with a demo account rather than going all-in with your funds without much knowledge.

Having a formal class would help, but honestly that's expensive, and I believe that most traders are just learning how to trade through online information they read. We in the generation where information are already shared online, if we are too resourceful, then for sure it will help us to succeed.

Trading is like a business, you take a high risk in doing it, therefore it requires the right knowledge before you risk a considerable amount, but you can always practice with small amount first, just increase along the way as you learn.

I am explaining from my experience that those who want to trade, please understand beforehand what is trading? For beginners, you should devour a lot of duration learning how to trade before you commence trading. Research until you are evident and have sufficient knowledge about trading. I guarantee that trading is not performed by overhearing to anyone or with any motivational speech. There are words - think twice and then act.

I would say this list is as common as it gets and still not followed by all newbies is what makes our market very dangerous for them. I agree almost with everything here, and they are very commonly found in any investment book as well, you have to be careful to follow them and just be careful when trading as well.

However the problem with the newbies these days is that they have worked all their life for money that doesn't exist, they ended up spending it because life is not fair and paycheck to paycheck life is a reality for over 2 billion people and they are probably one of them, you end up saving 10k dollars by miracle if you ever can (some even can't) and you want to have enough money to just retire or maybe even have your own work because you hate working for others. What happens? You end up getting carried away by these news of people who made tens of millions of dollars profit from bitcoin and you throw all caution to side and go into crypto all-in and make mistakes.

As a novice in cryptocurrency trading, I tried to get as much information as I could by reading a range of publications and online tutorials. What I recall as good tips for all beginners are the following five techniques:
- Learn and understand the overall concept of cryptocurrencies
- Start small and scale gradually
- Invest in multiple coins
- Track market movements and learn from them
- Reallocate your investment

I may have missed something, but these are the ones I've been acting on.

As an alt coin trader the best thing you may do first before you trade or invest in a coin is simply you must research first the coin you may want to trade , do research about graphs and how trading works, techniques so that you may not easily lost your capital. Be wise and knowledgeable in buying a coin, join telegram or ask for trading expert advice so that you can gain more profit from trading.

When I was new, I used to watch videos on youtube. We can get a lot of knowledge from video tutorials on YouTube, but if you really don't know the basics of crypto, at least you have to study hard like reading articles and also how to be able to master the basics of crypto without spending money. Don't force it to immediately try trading if you haven't mastered it, first try creating a demo account or something without spending a lot of money

nice of you mate .

 i always underestimate youtube because i think it was only a waste of time but i didnt know that there are also channels created to learn crypto trading but what are the name of those channels mate ? or you can drop a link

, this will help experienced traders and newbies to improve their trading knowledge . time will come that crypto trading videos will be given a chance to get recomended by youtube , helping people to watch worth it videos that they can use to earn

1. Choose the right broker
The choice of a broker is very important, especially for a fraudulent broker. Already tired of trading, the broker took the money away. Check the track record of the broker, legality, where registered. After that, just check the facilities and features provided. Is the software comfortable to use, complete features, and so on. Customize brokerage services to suit your trading style.

2. Start with a small amount of funds
One of the best tips for trading is to start with a small amount. After a new consistent profit is added. The large amount of funds does not guarantee easier trading. The same. If you can't trade well, using a million, a billion, a trillion will still run out.

3. Be realistic
Be realistic about trading results. Don't think about trading for living just yet. Unless you are extremely lucky, don't expect to turn your $ 100 trading capital into $ 100,000 in an instant. In fact, the focus of trading is actually survival. If you expect too high, you will only be disappointed, frustrated, desperate and ultimately fail. Right from the start of trading, think and be realistic (unless you are very, very lucky). Unfortunately no one is very, very lucky.

And most importantly, be disciplined, consistent, and have enough knowledge to trade.

From my own perspective, you will learn in every stage of trading and you should go after gathering proper trading knowledge how to survive in the market. It will help you for being more patience and will keep you optimistic that you will be succeeded in trading.

If you have enough balance and you can afford it while your strategy fall, then you may go for trading. Don't put all in one, spread your budget to some coins or tokens then you may able to make it proper distribution that will help you to involve more in trading.

I recommend you should peruse more about stocks, cryptographic forms of money, and forex. Youtube and online sources can give you an immense measure of information in a brief timeframe. I have constantly to recuperate my misfortunes back in my day exchanging days however. I just educated a few instructional exercises in Youtube and they showed me the utilization of exchanging apparatuses particularly in Binance.

Youtube sucks bro and I literally watched a lot of videos but never found one good video which explains some ways of how to read charts and how to predict the movements. All I have learned about trading is by some good content on this forum and some good articles and mostly from my own experience in trading.

Please can you share those videos which you mentioned? I would really appreciate if you can share because like me, there are many guys on the forum who thrive to watch some good content on youtube and unfortunately can't find it. Even the recommendations from youtube are so pathetic that it almost feels like there aren't enough trading videos on youtube. Most of them are just promoting a brand and going round about it.

If you can time the market right, trading crypto can give you much higher returns than traditional investments.
That's why knowing and considering what's the best cryptocurrencies over the market is sometimes a must. Furthermore, that is where we can see BTC (https://trade.kucoin.com/BTC-USDT), ETH (https://trade.kucoin.com/ETH-BTC), XRP (https://trade.kucoin.com/XRP-BTC) and LTC (https://trade.kucoin.com/LTC-BTC). Actually a lot more. Also choosing the right and safe exchange should be learned.
For traders who are simply beginning, the cryptocurrency market can some of the time feel like a wild rollercoaster ride. So better to have an open eye and an open mind always.   

I just recollected this colloquialism; “don’t put all your eggs in one basket,”  it may be old, yet it's a recommendation that actually remains constant when investing in cryptocurrency. Furthermore, simply a say, Instead of using only one single exchange, it very well might be smarter to use a few distinct exchanges to deal with your trades. Indeed, even the biggest ones have experienced hacks, so it pays to spread your possessions across various accounts.
However if you would prefer not to and you think it is more complicated for you, you can go for one. For instance, kucoin. I actually do my trading for BTC (https://trade.kucoin.com/BTC-USDT) and ETH (https://trade.kucoin.com/ETH-BTC) over there for about years. And I'm still good.

Don't invest all fund in one coin and try to buy in cheap price and Don't be greedy and all time set your buy or sell terget.  

I would say don't look to survive in the market because when you have the mentality to survive your trading decisions will be defensive and more towards avoiding loss rather than being pro-active and taking minimal risks and looking to end trades in profits.

As a defensive trader you would be happy selling your BTC at 10k which he bought lets say at 9k but a more pro-active trader would wait a few extra months and rather sell it for 20k or even more. Sometimes I understand we have to avoid taking risks but this crypto space is all about being ballsy and taking risks.

Again, on the contrary I would suggest going more towards a single asset and that too Bitcoin because all the other coins are not worth investing when the bitcoin market is going bullish.

I'd say KuCoin got a decent credibility and I've been using it for quite some time - never had a serious problems so I'm all good, binance is okay too but its just as overhyped as uniswap so I shook it off. Exchanges are for trading only and solely for that reason so you just gotta choose where your preferences fits.

Invest whatever you don't care about losing
Patience and understanding why you buy or sell something is a must
the you play the more you will learn

I suggest  fledgling that some time recently getting into exchanging prctically and get basic knowlwdge of trading, the primary thing to do is ponder the advertise, apply essential investigation speculations and specialized examination, believe the books and learn some time recently you believe proactive traders.It will handle your possess contentions, and after that after you have your examination, exchange with virtual cash some time recently doing it for genuine.

Kucoin is definitely one of the best ones out there. I am not the one to downplay Binance, because I use only binance and BSC right now, I do not use uniswap at all and I do not use Kucoin neither, but just because I do not use Kucoin doesn't mean that I do not know about them neither.

I have a friend who works there and I can tell you that they are awesome at safety, I do not remember any time they were ever hacked neither, like even Binance which has insane amount of money did get hacked few times, so it is a marvelous achievement not to be hacked in crypto world, those places are under attack every single second, not a second goes by without them being attacked. Hence I think even though I do not use them, I agree that Kucoin is one of the best out there ever, I do think Binance is awesome too but I wouldn't be able to say anything to someone who prefers Kucoin.

Many people talked about how they could become better traders but nobody talked about what they should do beforehand. I believe a good trader should become a good investor first, if you are a good investor you could become a better trader and easier as well. I know that there is a good chance that if you keep grinding and learn trading alone, you could definitely become a good trader, there is no "must" with investment because if you do not have enough money it will not make you a huge return, it may but long term investment usually doesn't bring life changing amounts of profits (usually).

However with trading you could make more and more money and you could reach to insane levels IF you are good. Which is why I understand people ignoring investments, but if you can get better at that, you could definitely become a good trader easier.

Educate yourself everything almost exchanging. Make  sure and have teach and a arrange to take after. It may you wish to have in arrange to be effective at exchanging. Learn how to oversee your hazard and capital and you're all great. Keep in mind a enormous rate of exchanging is almost testing your tolerance and emotions never let yourself lose fair since you lose one exchange. And the foremost vital run the show to avoid Covetous.

Self experience will really be the key because you would definitely learn up with due process.Reading up theories arent bad but the real learning was actually on true
engagement with the market and the rest will follow.Just have that dedication for you to learn and sustain yourself with this very unpredictable market.
We do all start on being noob thats why you should realize and accept that losses are common.Dont make yourself perfect because this isnt the goal you've been aiming for
but rather try to be sustainable and able to play with the market without burning up all of your capital.