Bitcoin Forum

Hi guys ,
 I have been involved in crypto for about 6 months now and I could say I have lost a bit of money by investing in some not so good coins (alts). Up to now I have only been investing and tried to hold them for some time . I haven't tried to day trade yet.
Is anyone on this forum that could genuinely help me with where to start learning about day trading and also learn a very deep understanding on how crypto works and start making money. I have some knowledge already of what they are and everything but I am not happy with this level. I really like cryptocurencies and I am ready to start going deep with this .I want to start day trade and further invest in ico's and good coins.
I cant take loses anymore is driving me nuts...I am not expecting only gains and I know it will take time but I am willing to start trading with small amounts of money like few hundred bucks as for now to start learning and then go in deeper. Is anyone on here that could give me an advice of how they started learning or whats the best way to start . I am sure there is many veterans on this forum that could give me helpful advice.
I was thinking joining some telegram memberships that offers crypto signals do you guys think that's a good thing and will actually help you learn and bring you profits in the same time or they just want take your money ?  or do you have any crypto signals group that you have personally using and are bringing you very nice profits?
 

any advice that could get me started on this long path will be much appreciated ;D.

You have lost some money and you started to hodl, that experience is enough for you, I am sure that day trading would be another loss for you because there is not easy gain you should continue to hodl.

I know what you feel since i had experienced on how to lose up money into those times on where i was just starting up on doing trading.These kind of things comes to our minds cant really be avoided which we would normally ask or get some advise on how to take advantage into this investment field but all things arent really necessary for you to seek out some help because you can learn it from your own. All of things that are essential into your learning is already in the internet,all you do have to do it too put some effort for you to learn on.

Well it is always good to learn in depth about anything you're a newbie to before you actively participate in it. Day trading is one of the most difficult tasks to do on crypto and you really need to be well vexed before you try it or else you're gonna loose money. Learn from trusted websites and follow discussions here. Also i wouldn't advise those telegram pump/dump groups. You might never know whether they're legit ir not, but what you need is to really learn about it (I mean trading) first

This is the result when you are buying coins without studying, investing can be more risk than trading simply because you might fall in some shit coins and believing that it can go high even if it’s not. In this case you will just miss the opportunities to make more profit with other great coins.

Intraday trading in cryptocurrencies using technical analysis is no different from Forex trading. About Forex trading written a lot. Choose what suits you best from this.

of course I really fit the crypto currency ,, because I have known the ins and outs of crypto since long ago .. while forex I think more risky than bitcoin ,, forex market is very fast and high risk that we will be if not much to learn. we'll just run out there

If you've made losses while holding, day-trading is not gonna be any fun for you. Day-trading is basically gambling. You can get lucky, but every once in a while you'll get burned bad enough to lose all your gains or even the original investment. I learned TA and attempted to play around with what I'd learned using 100$. Long story short, TA is somewhat reliable for bitcoin and ethereum, not so much for the others. Learn to identify dips and how far down you can speculate they'd go and buy. Sell when at a comfortable profit. Don't get greedy. That's your biggest enemy in this game.

In my opinion, you need to start by studying technical analysis. I started with him. Technical analysis provides a basic understanding of the market. Studying graphics and using different tools of technical analysis, it will be easier for you to understand where the price will now go (with a greater probability). Next you need to follow the news to keep in touch, but do not forget: NEWS ARE FREQUENTLY USED FOR MANIPULATE. Do not become a victim of these manipulations. And for God's sake, do not use any groups with signals. Think YOUR own head ALWAYS!
The idea of ​​learning to trade on small amounts is wonderful. I think that knowledge, understanding of the fundamental causes of what is happening and experience is what will make you more successful. But do not forget ALWAYS THINK YOUR HEAD and do not let other people's thoughts dictate to you what you should do. Good luck!

Man, that sucks to be honest... you should have studied the game before you start playing it. Anyway, let's move on...

First of all, you don't need to ask for advice from someone over the internet who you didn't really know. You have mentioned that you already lose money upon buying trash coins, that should give you a perfect experience already - if you are smart enough to realize that noobies must avoid trash coins.

Next of all, you must not join pump and dump groups. Imagine how much you are paying them every single month of subscription, put that in a wallet, then you will realize that in a year you could have save that money to buy a new motorbike. Not to mention, pump and dump groups are the rotten in cryptosphere.

Third, if you want to make money out of these... btc, eth, bch; feel free to buy them everytime there is a dip. HODL on unless you need that money very badly... otherwise, I don't see any reason for you to sell low. Cryptosphere is an evil realm that could give you the taste of heaven as long as you know how to deal with your own demons.

Always buy low, sell high... nothing else.

I am still a beginner so I can not help much, I think in telegram about crypto group signal, usually the group does not display the reason and analysis or information from the experts why should buy the crypto, they only show what coin? at what price buy / sell? so it does not suit you, you can watch youtube as a reference to learn deeper crypto and if you are lucky you will meet someone who is quite experienced in some comment on video.

I believe you should stop and hold everything you have in Bitcoin before you lose everything. I was once the same as you when I started.

Is anyone on this forum that could genuinely help me with where to start learning about day trading and also learn a very deep understanding on how crypto works and start making money. I have some knowledge already of what they are and everything but I am not happy with this level. I really like cryptocurencies and I am ready to start going deep with this .I want to start day trade and further invest in ico's and good coins.[/quote]

If you truly want to "day trade" then prepare yourself to lose more of your money. But are you ready for that and is it ok for you to lose more?


If losses "drive you nuts" then did you ever ponder if trading is really for you? You will potentially lose everything if you keep continuing.


Be careful from the advice that you might get from the forum. I believe the expert traders have already left.
 

Buy the dip and hold everything you have in Bitcoin.

If you still hold those coins it is not yet a loss, because there's still a chance that the price of those coins that you hold can still recover so you should only consider it a loss if you sold it for cash. Day trading is easy to do but there is no guarantee that you will make any profit and it is more risky than a normal trade. But if you want to learn about it there's a lot of tutorials out there, either in youtube, article or blogs but for me, the best way to learn is to have an experience on it, you can always start with a small amount and then just add whenever you feel comfortable on what you are doing and a little tip, only day trade cryptocurrencies with huge trading volume.

Thanks very much guys to everyone who left a comment and gave me an advice and suggested a path I should take . I can see mos of you guys are advising to keep my holdings in btc . By the way I haven’t got any btc in my holdings , 90% in my investment now are in wanchain . I sold all the shit coins and invested in wanchain . Is anyone in here that knows this coin on a deeper level ? I’ve studied the coin already and I like it . Sounds like it has potential . If any of you guys want to say how bad or good this coin is you are welcome I’m here to listen to all versions . Thank you 🙏

I agree for some points with you to trade by using Technical Analysis, but in Crypto space I think it can not be fully applied. Technical Analysis seems to be applied for large volume transaction by viewing candle stick chart as past data to predict future movement. If in crypto, just some coins/tokens that will be suitable with Technical Analysis as their volume is sufficient to be analyzed while Fundamental Analysis seems lot of FUD in Crypto space as it is decentralized. So no parties control and manage everything including the news to be around the community to cause the lot of news are fake or manipulated.

First off, don't ever join any signal channel all of them are just crap. If you want to start trading then its good to start with a small amount and gain experience, i would suggest you to trade the coins which you are already holding. You shouldn't sell off your bag and realize the loss because after correction the prices goes up. I can only suggest you to hold your bag and to buy the dip.

Dont ever join up telegram memberships if you dont like to lose up even more money because those things wont really generally help you out on what you do seek for. Day trading is indeed a very hard thing but things that are essential or needed is already online which you can make a search of your own and make self learning. Reading up day traders advises for sometime will be a good boost up or add up into your knowledge. Losing money is inevitable,therefore you should accept it and make learnings from it. Holding doesnt guarantee your guaranteed income. The thing on here is that on how you would gonna choose the potential coins. This should really be always the main concern.

this coin is not that bad.
but your action was bad because as a trader or investor you can not go all in into 1 project,except Bitcoin itself.
let's talk about the basic,
everything is alternative coin other than Bitcoin,which means it could go 0 at any moment or it could go 2x from its price.
if you are putting all of your money into 1 project,it's like you are playing a gamble.
you should avoid that kind of action because as a trader we need to have an open-minded head,when the market goes wrong we need to put some action to back our capital.
but if you're putting it into all of it at once,how can you make a back up ? at best you're only holding it,nothing more than that.

bear it in your mind,no matter how good it's.
we can not change the fact that they are an alternative coin,they can be replaced by others at any moment.

I think that trading is the best choice at the moment, you can see that bitcoin prices in the past days are constantly fluctuating and difficult to predict, in the long run, bitcoin prices are in The trading day will reduce the risk a lot and will be able to bring you immediate profit. Make a trade plan that can reduce the risk.

You are probably losing money because you are not very well informed when it comes to cryptocurrency. You should've read more about altcoins and what not to do with it. Since you invested in the coins that are not so good, it is normal that you will lose profit. If you are an investor, you should've read articles regarding what are the top coins to invest as of the moment. ICOs are also a good form of investment but you should be aware of the scams. You can also do research regarding ICOs if there are legit or not.

I can tell you one thing in general and based on my experience in my life so far, if someone knows for sure how he can make money with day trading, he will not post it publicly and for free so the competition for him will increase and he will probably make less money. If you or other day traders win money, then other day traders have to lose money. If you are looking for a good investment, then you need to spend your time and research about low priced and promising altcoins with huge potential of price increases.

Since your beginning to hold i say that you've learned youre lesson but losing all that money from trying to trade and investing in bad coins.  I've made those same exact mistakes and the knowledge i gained from them was worth the large amounts of money i lost.  If i were you i could continue to hold and only trade over long periods of time.

If you wanna start trading, just buy a forex book and try to learn a little from there, this is a good way to start introducing yourself in here (and i am serious) this helped me a lot.

For you to succeed in day trading you most be ready to stay with your computer for long and if you have little knowledge on how day trade work I will advise you to not going into it.  Trading is a game that involves with risky and you should do practice first before putting your hard earned money into it.  You are loosing because you have not master the act of trading and cryptocurrencies investment yet and I will advise you to learn first and other things should follow.

I think we both experienced the same things in trading. I have lost some of my money in trading maybe around 100-200 bucks but its ok for me since its what I can afford to lose and at that time, I am learning how to trade. Now I can say that I am not a beginner but not a pro, maybe mid level.  ;D ;D

Regarding into where do you need to start, maybe you need to learn how to read candlesticks, use technical analysis, handling your emotions (important) and many more.

Many are saying that day trading is very stressed so I tried it myself and its true. Its very stressful base on my experience. Waiting for hours for the coin to increase then picking another coin. In day trading, you are scalping only meaning you need to buy at low and when the price spikes for a bit then you will sell and pick another coin.

You need to learn how to use indicators too. In trading, the most commonly used indicators are RSI, MACD, CCI, Bollinger Bands. Maybe you can try Fibonacci Retracement in your trading if you want. One more, don't try to trade if you don't have enough information because your losing streak will continue. Read and read before you trade for profits.