Bitcoin Forum

I consider my self a new cryptocurrency trader. I started last month actually (April 12th precisely). I started with $25, thank God for this forum advice my first Altcoin was Ethereum... it was $45 or so then. I did a further research on Ethereum and found out it's worth it. it's among the best Altcoin if not the best. The price went as high as 100$. So i finally sold @ $97. My investment double to $56 in less than a month.  
I owe some of my success at Ethereum to day trading... i did lots of switching back and forth between Ethereum & Bitcoin. Am now holding Ripple which was why I sold my Ethereum. My $25 initial investment is now worth $72 less than a month of trading Ethereum, Ripple & Bitcoin


So my advice:  You can actually start small. You need lots of research before investing your hard earned money. Don't invest in Worthless coin. You can actually make money from them but only knowledgeable/experience traders make money from them.
So stick to the good coin till you become experience enough to trade those coin.


 Download Reddit app and join your favorite Altcoin groups. The reddit groups are full of great coin analysts who are knowledgeable in Altcoin trading. Bitcointalk is also very helpful.

the first good thing that you did was starting small. i also have done this, i still consider myself a newbie though ::)
with small amount you never have the stress of losing a lot of money, and because of that you can think better.

but my advice is that do not think this market is always profitable like this. check out the charts to see the same patterns of price rising and check the dump that comes after it. if you could survive the next phase of market with your profits intact and even make more profit then you are a professional trader.

This part is important to take serious. For newbies like me, please pay attention to this. Don't waste your Money on garbage coins.

You gave some good and smart advices that people should stick to. But one of the main problems is that many users just want to get quick profit so they don't have patience with making researches and collecting knowledge and experiences, so they often take too much risk that couldn't be handeled.

with the price really huge now btc to alts trading will be a good option in terms of investment if you really focus and understand things that affect the movement for sure you will able to catch it up and make a huge profits, its just focus and interest that will make us a good traders I'm also a newbie
though but its just my own observation.

these are very good advices but i would like to add a small thing to it if you don't mind, to anybody who is reading this.

if you have been making profit in the past couple of months it can be because all altcoins went up, you didn't need to be an experienced trader to make profit, closing your eye, choosing an altcoin, buying, and holding 2 weeks meant at least 300% profit. (not saying OP is like this but many have been like this). so in case you have been like this just make sure to not get too greedy and think you can make profit forever this way. be very careful from now on and you will be able to make continueos profit.

also thanks for the reddit suggestion, i recently found a couple of subs that are very good.

Could you please recommend..

Yes crypto trading can be both risky and profitable, if you don't make deep analysis about coin which you want to invest into than you will loss so much rather than making any profit.

According to your story, you seem both lucky and smart to make early exit when ETH was at peak price and got into ripple when there was correction after a massive pump few days ago. You also have to keep in mind that you shouldn't follow any FUD/HYPE on trollbox.

I think I like anything that has to do with chart & analysis. Never was very good at school maths nor physics though. Office jobs bore me to death. I might get too sick doing them no matter the pay. I just wanna be alone analyzing stuff and making money ;D . Doubt I can ever be bored at Trading. I believe it's something I can live with for a  long time. .  

Patience is indeed important in trading

Thank you for some advises I might follow it Im also trading little by little by now and its a good idea since trading is a risky method We should  start in small amount to gain more experiences..

If you are good at it then you can make a good amount of money through trading and if you have the time and resources to follow everything then trading is the best place you should be because it is a ripe market and you could make a fortune if you are really careful in your analysis .The success of every trader is when they are able to identify penny stocks and makes a fortune with it.

And my review on the matter, do you know for every single dollar there needs to be a job done and must be earned? who did what exactly to earn you $75?
At the end if some body is left with a huge loss, are you Ok with it?

In Bitcoin you either buy miner and start mining and it will cost you to do so and people will buy your coins at a market price and they will then in turn spend the coins and earn back what they've spent.

Most people don't care if what they have sold is going to earn the buyer any profit, I buy ETH at $7 and will sell at highest price like $120 and price will go down to $60 now what happens to the people who bought from me for $120? why should I care you say? they knew the risks and this is trading you say?

I know all about that, but that is the difference between you and me, I stay away from such trades because I care for others.

I stay with Bitcoin and wouldn't think about if others going to profit or not because I always recommend to hold for long term and I know Bitcoin was designed to go up in value.

I can't say the same thing about ETH honestly it's price went from $6 to $100 in less than 2 month.

My advice to you is to make sure this is repeatable. 

If you look on Coinmarketcap, you'll notice that a good 95% of coins on there have gone up extremely dramatically in the last month or so.  It doesn't actually take a trader to earn profit from that.

You don't want to let profit blind you because it can be luck.  Stay humble, because altcoins have peaked, at least in the short term, and won't be doing that again.  I hope you analyse the charts nicely when you're doing day trading, and I hope you're really putting effort into finding the best coins.

In terms of altcoin trading, everyone can start at small amount since majority of new coins can be bought at cheap price. About don't invest in worthless coins, well there are traders who take the risk for new coins since we all don't know if they will be worth in the future so this the challenge here.

In your case, you chose a crypto that is already considered as one of the good coins that is meant for long term so really expect a big price increase to that coin even it will dip below the average. But some people don't want to stick with the idea of just chosing only those long term coins because chances of grabbing more profit even at small capital is possible for those new coins. They just increases the risk but hey there is risk everywhere so play with it.

thanks for sharing this piece of information and word of encouragement but at the end of the day trading is not for the faint at heart
it requires dedication,patience and discipline which you have shown and some extra effort of research!
Good honest review by the way.

I don't know what Ripple is, can we mine it? if yes then you should only mine it with ETH since they're much easier to mine than bitcoin.
All I know about Ripple is that billions of tokens exist and is a classic hype, best and most profitable crypto right now is bitcoin and logic dictates if you can't mine it to earn a decent profit in short period of time then become a trader.
If you actually believe in ETH and Ripple then you should sell every thing and buy them both while they're so cheap eh? how'd you know ETH won't rise to $800+?

Can anyone mention what subreddits they follow on the subject?

I recently got into trading but in a very small and speculative manner, I bought 10$ worth of STR when it was down (due to poloniex crash it actually recorded me buying it at a much higher price than the market) but I broke even when it bounced back up. I also bought 10$ worth of GNT but that was and still is a mess.

this is another good story that we can learn and we should try like he did especialy if we don't have big fund to do trading. i am agree that we can start trading with small amount and we can do research for the coins like the OP said and then we make decision to buy the coins. i am sure that in one day, our investment in one or more coins will be increase in the price so we can double our profit like the OP. all in all, for me, this is a good lesson to do trading so we can follow the OP to make profit.

off the top of my mind
/r/cryptocurrency
/r/bitcoinmarkets
/r/cryptomarkets

also when visiting all these subs or any other one like /r/bitcoin or /r/{any altcoin name} make sure to check out their sidebar or wiki page if they have. you can usually find pretty nice links there. i mostly found these in the sidebars or someone suggesting them elsewhere in comments.

You did a good job.ETH is the best altcoin and it would be first $1000 worth coin after bitcoin.But i strongly suggest do not hold ripple for long time.If you still have some ripple, you can take the profit right now.Just my personal opinion.

You are not alone with this opinion. I am sure you also read somewhere that ETH is really poised to be the number two cryptocurrency next to Bitcoin and it would not be Ripple as it has many weaknesses and the bubble will soon burst on Ripple. Ethereum is the real deal outside of Bitcoin because  primarily its platform is being utilized by other coins and many firms are now looking at it right now. BTC and ETH are two proven winners and worthy to be kept for the long term.

Great advice and i think that is a very helpful advice for those newbies who are looking for some suggestion for their trading problems. Reading a lot from different forum like reddit and also bitcointalk is a very huge help because it will give you a lot of ideas in investing on a good cryptocurrency and also it will add some information from your research and you will have a better decision.

I will not called this luck because of your diversification intelligence. This secrets you review now are the simple logic of trading success. Buy it cheap and sell expensive is the fundamental of professional trader and diversification is the rule of the game.

Another good tip could be (only if you start with little amount) to study well the margin trading on polo and give it a try with small amounts.. this is for people that want to be rich (or poor) fast

And remember.. diversificate among your trades!

It is another great way to do trading, following the trend coin to trade is a great way to earn from trading, a lot of people making a lot of money from alt coins but trading alt coin really need to be focus and be careful because the volatility is very high, but if you are experience with trading then you can earn a lot from alt coin

I don't think thay experience matters in trading altcoins since experience is nothing if you  don't know how your coin's market move. It's like you're a newbie if you depend with your experience since what you are using is only your instincts which isn't good in trading.

Well done sir, all people who want to start trading should have confidence and believe they will success, need to do a research about coin you want to trade, and Ethereum is one of best altcoin for trading, like Bitcoin the price can down but will recovered soon. Small amount is not a problem to start trading.