Bitcoin Forum

I am not a professional trader or experienced trader but at least I understand the risks and also all the consequences in trading "even though today is the first time trading". I plan to fight myself against curiosity. no harm in trying right? if I just stand by without Doing It then I will never know what experience is. first capital $100 and also ''ready to lose money''
I only use CMC + CoinGecko as the first material to analyze coins and also PooCoin.
any suggestion? some kind of tool/indicator for trading?

Poocoin as a start? I don't think that's a good idea for you to start with.

As you start, get on the ride with bitcoin. It's where everyone should start with in trading because you'll never go wrong choosing it as a starter.

Okay, so before you even say you are ready to lose some money make sure you are an experienced trader. If not then, you are most likely gambling your money in order to gain plus there are factors that you have to consider when trading and it's not that easy as you say you can spend a small bucks just because you are ready to accept consequences of the risk.

For starter, try using the search button to find the topic that what you need, this topic has been discussed over and over again and I'm sure there are plenty of topics you can read and also to help you where to start when trading. It's better than to gamble your money on trading without a proper knowledge.

You can lock this thread because we already have few threads related to this topic please check here.

https://bitcointalk.org/index.php?topic=5362658.0

https://bitcointalk.org/index.php?topic=5364448.0

https://bitcointalk.org/index.php?topic=5363865.0

There are so many tools you can use in your trading arsenal. The most popular Technical analysis and charting one is Tradingview.com.

I have seen numerous threads about trading tools in this board. All you have to do is make full use of the search button, and you will get what you want
For example, I just found about this site - https://learntradingart.com

From what I understand, you just use these price tracking sites as a reference to learn how to trade? It looks like you're setting yourself up to fail and while you might get multiple returns on your $100 by putting it into a lucky shitcoin but it won't help you much because you'd like to go bigger next time and you'll get caught and lose even more than you originally anticipated.

What I suggest is to start learning technical analysis on:
- babypips.com
- YouTube (Free University for literally anything).

you should start looking for charts and understand what it says using the indicators which means you also need to learn how the indicators work. its a big load for new learners but you will gradually absorb the information once you talk more to the people who know how to trade.  the forum has a good number of people who does trade, not just gamblers.

for starters, plush that poopcoin behind.

The best way to learn is through trading by yourself. Use your $100 to invest in some coins and start trading. You will make a lot of mistakes and will probably half of your money in just few days. Now use those mistakes and experience to make yourself a better trader. Learn from it and you will eventually get better. Just reading and watching videos on youtube won't get you anywhere. Gain knowledge and practice at the same time.

You can go to YouTube and watch some videos about stock trading. There are hundreds of them out there. Don’t buy anything from those videos but just watch it to learn common termonology and get comfortable being in the markets.

Then try yourself with small sums, because most likely you will lose this money anyways. After a few months of trading you will get better and better at it. So remember to always go with the trend such as now only taking long trades and always use stop losses even if they get hit regularly.

here is simple strategy or tips for you, go to bitcoinvsgold.xyz (https://bitcoinvsgold.xyz/) to compare price between bitcoin and gold.
and look below on chart for goldbtc, my experience is if it breakdown support or trendline then bitcoin price is going up its even better if the gold price also up again us dollar.

hope this simple tips will help you.

https://i.imgur.com/3Rh0sYy.png

TradingView.com is pretty much the "standard" tool that people use due to it's dozens of features; whereas CMC and CoinGecko is mostly just for having quick glances in crypto prices and marketcaps.


I assume OP was referring to the PooCoin charts tool(https://poocoin.app/), not necessarily a coin called PooCoin.

Use trading for chart analysis if you are serious on trading. Learning how to use indicators and reading chart patterns is the key to become a successful trader. You can use YouTube and other PDF online for tutorials about trading using technical analysis.

Charts is your friend to determine the right time to buy and sell any tokens in the market. CMC and Coingecko is only used to have a background check about the project since all details about the project was indicated there.

Never FOMO and greed is the 2 thing you need to remember on trading.

What analyzes can CMC + CoinGecko provide it to you? These sites display average prices and are not responsible for any problems that occur to you when you want to trade, and therefore you are the one who bears any loss.

tradingview is the main one, as he gives you a set of technical analysis methods such as Support/Resistance, Trendline S&R, Fibonacci S&R, Moving Averages, Relative Strength Index (RSI), and On-Balance Volume (OBV)

its a good start,  but always remember to make research if you have problem or questions, infact all the information about trading were in the internet so just invest time for it because that's the most important..
By the way why POOCOIN? what did you see on that project? For your information mate that coin has no volume /market cap data in CMC not available also in trading view wherein only price action in coinmarketcap. If i were you rely to the top 10 crypto if you want to have a good return, it's not safe to be honest so must think about it before making decision..

From $100, you should only use $25-$50 from the total amount to trade and split into 3 or more parts to buy at many low prices. As you are a beginner in trading, I suggest you stick to one coin and focus.

PooCoin? It is available on PancakeSwap, so I do not think that will be good since you are still new to trading. I suggest you use Binance or local exchange to trade for starting. You can try from the top 100 coin lists at CMC or CoinGecko and try to select a low price coin such as ADA, TRX, Matic or else as that coin could potentially increase.

Trading is not something you start without following the procedure involved in the community. Try to obey rules and regulations that guide the forum to enable you to achieve what you want in the future. Listen to your facilitators in the market because they have many to offer to learner in the market.
Ensure you carry out your personal research regularly before approaching the market because there are many coins in the market which it takes the professional traders to identify the potential coins to invest.

My advice goes to

• Start with investment first. Reasons?
  
  • It saves your time and you can get good profit in bull market. Especially, the new altcoin season will come soon with which you will have good profit if you invest in good altcoins that have own blockchains and are building up their ecosystem.
  • Remember, don't bind yourself with altcoins. Only invest and hold them in bull market, then take profit and exit.
  • In bear market, you will lose 80% to 99% of your capital if you hold altcoins
• When you increase your initial capital to 5 times, you can use a one-fifth to trade. Another one-fifth should be cashed out, just in case, you won't lose your initial capital

There are so many shitcoins with artificial pumps & dumps. Don't use Poocoin. If a coin is legit, it will appear on Trading View (https://www.tradingview.com/). You can buy a membership on Black Friday each year.

Messari.io's screener (https://messari.io/screener) is very helpful. Highly recommended.

Trading View to track the market and a bunch of other features you'd find useful. Other than that really, it's mostly self-learning on what the market of the coin you're going to invest in moves or acts. Studying charts, trends, etc, would do you the best so being updated to the latest news about the crypto scene would probably do you well. Probably spread your portfolio as well but seeing as your initial investment seems pretty low, probably start with a coin you'd think you'd highly profit from then start spreading your portfolio after that.

Poocoin? Avoid that, there's a bunch of shitcoins out there.
For me, start the basics first. Learning the basics of trading will help you to become a good successful trader, that will be your core knowledge.
After learning the basics (candlesticks, how to use the chart, additional indicators (volume, momentum, moving averages)). Risk management is next this will help you to manage your capital, minimizing risk and maximizing profits.

Poocoin is a trading app, not just only a crypto. It's a great app if you asked me. OP is in order making use of it. I also use it trading on DApp on Trust wallet. It's easier for me than going through the Dex.

Why would you call Poocoin a shitcoin? It's a great coin with use case. A crypto with its own trading app shouldn't in anyway be referred to as a shitcoin. You can find the trading app on playstore if you're an Android user. Perhaps you need to review it and find out it's underlying mechanism first before passing your judgment.

If you are just using CMC or Coingecko then you won't learn anything from trading.
You have to learn how to do technical analysis by using indicators and practice to create strategies to get the entry and exit points.
Once you start hitting the targets you will start learning. Do not be afraid of mistakes and losses because that's what will make you learn new things.
There are a lot of tutorials and guides on Youtube and Google. Get your hands on a few of them and start learning as much as you can.

As you have stated that you will be willing to lose $100, my question is this,  will you be able to lose $100 after up to like 10 times?  Trading Cryptocurrency required a lots of practice and starting with shit coin is not best way to start trading as technically analysis for these kind of coin are almost impossible because of it's nature!  Buy bitcoin and learn how to trade it from technical analysis point of view!

It will take a long time to become a professional trader. You will not be a good trader in a few days. You will see the roadmap of the coin you are targeting to buy first.
Keep an eye on whether their project is being developed. You will buy coins after seeing their updated news. I hope you will be able to make a good profit.

Are you planning to play with Shitcoin/memecoin? Hype with quite a lot of types? Because if I'm not mistaken PooCoin is only to see the price movement of memecoin which is usually not listed on CMC and Coinecko. What makes me curious is that you know crypto trading from shitcoin promoters?

To start your crypto trading, I recommend using futures trading. In addition to always learning and knowing how to read charts and also knowing all trading indicators, try a little spot trading (although it is quite risky) maybe you can set aside about 25% of the remaining 75% of long-term trades.

Seriously I really like your mindset because you know you can lose money in trading because most beginners always believe trading is just about making money, there are lot's of risks attached to trading that's why you have to do your fundamental analysis before entering any coin and I think coinmarketcap and coin gecko is a nice place which you can check about a coin but I don't think those places will teach you how to trade but you can check YouTube for tutorial videos on how to trade and you can also meet people physical to learn from them.

I am not sure that learning to TA suddenly makes you a better trader. I mean it does make you "better" in the sense that you at least know what you are doing before you do it and that way you could have a lot more reason while trading. However, the reality is that it doesn't guarantee you a profit because you could lose money while doing TA as well.

This is why I believe that there is a good reason that people still lose money no matter how they are trading or if they are newbies or veterans because anyone can lose money in the trading world. I understand that there are people that make a lot of profit and most of those people are making a profit based on the TA they are doing but it just doesn't guarantee profit, it makes it a little bit more possible.

Trading is not just easy money-making, you need to learn first before you will achieve that stage level.
I suggest joining demo trading in exchange that has a feature of demo trading, though you don't have full knowledge in trading at least you will learn some of it. Next is copy trading, there are few exchanges that have a copy trading feature that you can copy experts trader portfolios and learn on it while doing that suggestion.

CMC, Trading view, and Coingeko are the best tools that you can use in trading.

Thanks guys for clarifying.

I've learned something new and I'll take a look at it and see how good it is as you've been telling me. Now aside from tradingview, there's now this app that everyone can use for their analysis.

first should begin searching for graphs and get  utilizing the markers which implies you likewise need to figure out how the pointers work its a major burden for new students yet you will step by step assimilate the data once you talk more to individuals who realize how to exchange
the discussion has a lot of individuals who exchanges not simply players

Getting into trading with a very small capital must be a great idea so that you will never pressurize yourself against the risks of trading. When you are not having any burden in your shoulders then you definitely could think smartly so that you could take timely decisions which are more important than your analytical skills. I am not underestimating technical and fundamental analysis but that alone will not be enough against our emotions. So, first we need to be clear on what we could lose and what we should aim for.

I'm seeing these are very clear in your case. The chances for making consistent profits from trading for you is more in my opinion.

I'm seeing almost 9 out of 10 people are suggesting about getting into demo trading. I agree that we cannot ignore the importance of getting ourselves familiarize into trading environment and various parameters of trading. Hence, definitely the first step should be getting into demo trading for all the beginners of crypto trading.

It will take a long time to become a professional trader. You will not be a good trader in a few days. You will see the roadmap of the coin you are targeting to buy first. Keep an eye on whether their project is being developed. You will buy coins after seeing their updated news. I hope you will be able to make a good profit.

No building was built in a day so likewise trading is a gradual process of consistent readjustment to times you have made some mistakes to make your trading experience better. The trade is gradually getting volatile because of the last quarter investment rush so most strategy may be awkward so you don't need to give up but to get more information and understanding to tackle the market for the coming season.

I understand that you are a newbie but your choice about PooCoin seems you were almost losing your money. Actually, this is a new project, and believe you were aware of the risk as you've said earlier. I could say that this is a bad choice, it is better to start learning to trade using the known coins like BTC or BNB.

Maybe because you have a lack of knowledge in trading that brings you there, but I think you should explore the market more and continue to read and watch online tutorials and then apply those things/ideas that you've to know. I believe that you can do it, was just a matter of patience and hard works.