Bitcoin Forum

Around a week ago I started with experimenting on bitcoin trading.
First few days most of my analysis were correct but recently I made a couple bad trades that have vaporised my profits.
Admittedly I have to say that making a good trade really makes you feel pumped up.

I wonder how other traders started off when they first got into Bitcoin trading.

Where and how did you start trading?
How did it go at first and what has been your learning curve?
Got tips for new traders?
...

Would appreciate if you share your opinion.
Thanks!  :)

tip:  keep losses small. 

buy low
sell high

11%

first time I knew bitcoin was via YouTube , was watching some videos till I got on a bitcoin video , found it interessting so I decided to learn more about it and here I'am .. joined the the BTC community .
my first Bitcoins was from selling digital goods but I never used Exchange websites to trade my BTC . I  was always using forums to do that (basically with currency exchange sub forums on them)

for the Tip I would say : Play it smart , don't rush because bitcoin is a long term investement. and keep your losses small like tokeweed said :)

Thanks for the reactions!

I agree that riskmanagement is an important aspect of trading.
Although this is easier said then done, as in the case when you are doing a big trade.

Set a strategy before executing a trade.
I'd say this includes the goal but also the price where you need to step out when things go downwards.

other hint with bitcoin : stay long ... see month instead of day.

History doesn't repeat but rhyme instead.
Look back and don't panic.

Oh, and try to trade like a machine, get rid of fear and other emotions.

Yeah it may be a little bit hard or even a lot ... to keep losses very low but that's how it works . First of all a trader shouldn't get Gambling addiction otherwise he is screwed . that's why they should play it smart, wait for a good moment to buy check charts etc ... even if it's hard to predict bitcoin price .. once you buy just hold it and be patient

it's not about winning, it's all about not losing.

Well the past fw days have been volatile for btc price, so day trading is also profitable.

That's called hodl (not losing).
If you want to win (increase coin count) you have to get them coins moving.

Don't trade. Convert.

I lost about half of my initial 800 bitcoins when I first started by doing daytrading.

There is a saying when it comes to poker. If you sit down at the table and you do not see the fish, you're the fish.

Do you see the fish to take advantage of when trading?

This strategy will not work if you are using any kind of leverage. If you use leverage then you will need to pay interest on the amount borrowed be it either fiat for a long position or bitcoin for a short one. If you simply "don't lose" then you will be loosing money

+1 on this. Damn good use of that quote. Was that a Doyle Brunson quote?

Did you see that fish when bitcoin collapsed week ago? Because some things are really hard to foresee. Even if you are an expert.

This is all wall street manipulation so impossible to predict day to day.  Be careful trading on margin.  It's a trap.  Especially the Chinese 20x lure.

With all respect, but people who do not understand the game usually say it's rigged or manipulated.
When people win, they say it's because they are smart and the rest is stupid.

there is no new tips.

When I first started trading, I learned a lot of technical stuff from listening to / participating in bitcoin trading forums and watching youtube videos.
While he's no longer trading, listening to / watching bonavest's vids are an excellent place to start.

Learning the market / trading will always cost you. That's the beginner fee ;)

who can pump and dump its people who have technique to manipulate market and have big capital .

Bump, more tips please!  ;D

Always trade in small amounts! Never trade more than you are willing to lose!

I was able to manipulate the PPCoin market early on with as little as $1000. I see no reason why someone with a few million dollars is not doing the same with the Bitcoin price.

That is why I do not trade, I just use Bitcoin as it is intended, as a currency and store of value.

i started trading (more like playing) with tiny amounts just to test and learn and after i got enough confidence and knowledge increased the investment
my start was not that good lost but learned a lot
as everyone says but low sell high :D
but 1 suggestion don't act emotionally

when buying, still stay in front of the computer looking at the prices and take a little advantage. (not greedy) haha

Its been fun over the past few weeks, buying low and selling high. There has been some profits to make for sure.

I am new to trading bitcoin also round about 3-4 weeks close to you, have you found bitcoinwisdom yet? Watch how bitcoin etc are performing across all exchanges, okcoin, huobi seem to lead they way check it out see if you learn anything new. Good luck

Yup! I was.
I'm a DOGE miner and a crypto trader ;D ;)

My experience from i join A few month ago until now..

I get 1BTC from Trading
I get 0.03BTC from Faucet and Giveaways
I Loss 0.2BTC from Moneygame
I loss 0.1BTC from Mining


so,,
which one do you choose??

i Prefer be a Bitcoin Trader
 :D

Does it matter if you are a BTC trader or a consumer? Doesn't it all serve the same purpose? The perpetuation of BTC.

First day: lost half my money. Ha!

That was after buying the top of the April 2013 dead cat bounce I learned a lot since then, learned the ropes in the aftermath of that bubble, then rode the November 2013 bubble from bottom to top. Made pretty insane profits (for me) and took a lot off the table... kept some cold storage. Still play the market when I have the time and see an opportunity. :)

I started trading 2 years ago. The start was good as I made a good profit in the first week after which I became a more over confident which made me loss the remaining earnings. my only advice is trade less earn more, invest less and get higher profits. The moment you make a profit that is enough, cash it out rather than waiting to get higher returns.

fantastic, how long your trade to get 1 btc from trading?

first time i start off with 0.1 btc from my cousin
first month was rough, i only managed to get 0.05 from trading
tips is better sell of at few percent profit rather than got burn waiting for higher percent of profit

what do you mean ? there's multiple people with a few million dollars manipulating the price for a profit.

i think,,,, 6 month

it is so fast or no??
:p

Exactly, I don't have a few million dollars to manipulate the price for a profit. So I just get paid in Bitcoin and spend it.

There are a few AltCoins that I believe in that I will trade BitCoin for.

Speculative trading is risky. I would respectfully advise against it if you are attempting to get advice this way.

I'm gonna start quoting this to people i know , along with "There is no spoon" :)

I've been trading btc for almost a year. Anyone who has a lifetime net loss on bitcoin trading must be a complete fool. I mean I am an idiot and have made hundreds of stupid trades but I'm still WAY up overall.

I had traded altcoin the last years. This year I'm just holding my BTC and just see what happens. Daytrading isn't that good for my heart.  ;D

Where and how did you start trading?
How did it go at first and what has been your learning curve?
Got tips for new traders?
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I started out trading , around a year ago ( i belive ) ?
a new currency called "Magic Internet money " got me hooked up , cause i was able to mine quite alot of that and then turn it into dogecoins 1:1 which got me really hype'd ( not sure why people wanted to buy at this price , but it made me happy )
I have had a very dramatic learning curve , I've done the stupidiest misstakes there is out there , ive sent bitcoins to adresses i dont know of , ive done stupid stuff that have lost me alot of bitcoins ( misstakes such as sending bitcoins to random adress , missclicking on delete wallets , forget my password , etc etc ) i started out really stupid in this community.

Any tips for new traders? i actually still consider myself pretty new , it depends what you want to trade ofcourse , but if you're into altcurrency trading i'd say watch out for the hype and make your own research.
Hope this helped you : )

I got some hot trading tips for new traders:
1) stay cool and focus, dont think about debt but only on the days trade
2) Never drink or masturbate while trading, it destroys concentration.. simple rule but very important
3) If a trade goes the wrong way, simply double down.. eventually the trade will turn around
4) Use martingales... double down any loss