Bitcoin Forum

Hey guys!

So a while ago I asked some of you a question for my trading guide. I asked for your opinion about trading tools and resources. Also, a lot of people asked to post a link to the article when it is ready.

And here it is - https://paybis.com/blog/cryptocurrency-trading-guide/

I published some of the answers I got from Bitcointalk users.

Hope you enjoy it and I hope it will be useful to some of you.

I just read your published guide. Honestly speaking, I am not a good trader and I still have a hard time understanding many technical terms related to this enterprise especially with cryptocurrency. And I think I am not alone that is why there are more 'hodlers' in this space than traders. However, I am not starting to educate myself with the ins and outs of this business because I know that more money can be made with trading compared to just hiding one's digital assets. Thanks for this easy-to-understand material.

i don't really engage myself in trading because of time constraints, anyone with free time on their hands can involve in trading, and aside from having enough time, you must be good to understand the charts to trade otherwise you will find yourself losing more than earning profit, i also find it a bit hard and stress full to trade especially day trading, so it is much better to hodl than trade, hodling also needs alot of patient because if you don't have patient you can't hodl to earn good returns.

I have scan your trading guide for BTC and I think it would be good if you will going to place all those things in a thread and then post it to begginers and help so that other users could make it as a reference when they want to trade in bitcoin. Unfortunately, I did not see any users here posting their achievements in trading bitcoins though trading bitcoins is easier than forex trading or fiat currency trading that has been regulated by the government.
Probably bitcoin trading is risky because of its highly volatile market price compared to forex trading.

YES he can post it in beginners he;p sectiuon it may helpful for people who starts trading. Again he is getting some good traffic for his website so he is posting his content . Even though it was helpful its not like other random useless posts . Appreciate OP's effort.

I have overviewed your Bitcoin trading guide and I found it quite good as you tried to cover the major and explained it in a simplified way. :) :)

Actually if you truly learn how to trade you will realize that you dont need to spend a lot of time. You pick 5-10 coins to follow and look at the charts. You can see good patterns in minutes, it shouldnt take you longer than 30-60 minutes per day. Then you can set the buy orders / stop losses and you are free for the rest of the day.

I have read through it and it's a great trading guide for someone would want to learn something before starting off to trade.
I also, have some suggestion to you OP.
Wouldn't it be Okay if you made an Overview of what the guide entails in the post here?
So that it encourage some people to read further after seeing what the guide is composed of.

I won't click on that link.
Why don't you post the guide on the forum,instead of trying to pull traffic to your own website/blog?
The best crypto trading guide was posted here 3 years ago,but I don't remember the exact thread title.

I agree with you. Most people find it risky to open links here so Op should have posted the whole content for us to read that trading guide easily. It will be a big help for traders but people are now extra careful in opening unknown links.
However, applying the basic rule of trading is still the most effective thing to do rather than putting too much conplications.

I have opened your blog and everything is clear and informative. I appreciate your effort for sharing your knowledge about crypto. Try to summarize at least one chapter of your blog and share it here so readers will never doubt about it. Honestly, it's informative and worth reading.

very well informed bitcoin trading right from fundamental points and  important information of technical analysis i request every newbie trader should read this information before entering crypto market

Just read your article now. Cleared some of my doubts about trading, I do not trade a lot, I only trade when I need to buy/sell. The problem comes with Buying, How to determine the crypto asset is worth that cost, thanks to your article I understood the concept of Supply and demand, Utility and market sentiment.This will help me a lot to choose the right project in the future.

It will be a very good help for a newbie, not for the people, who have been trading for years. However, everything is simple there, and even a teen will understand how to trade to get a result, what is a stop loss, etc.

What we discuss is the biggest guide but newcomers should also get involved in starting communication with us. They have the whole search engine to find out right information for the queries they want to find answers or explanation. Newcomers would be able to start trade with crypto coins using the right strategies and getting through technicalities. This guide is also helpful either it is on the forum or not.

I found a good article to learn about cryptoccurency trading. Complete and easy to understand for a new trader like me. The first step is to understand economic factors, then learn how to sell and buy, then study technical analysis that is very complete in my opinion.

It's not my website.

That is my guest post there.

First of all that is not my blog.

Second - people asked me to add the link here so they can see.  I did what people asked. I am also a content writer and it's good for my portfolio if I have published it on some blogs, not forums.

This is not a bad thing. If he can write a detailed guide about trading crypto, he would of course be a much better mentor if someone wants to consult in person. I think you should also do that. This is the spread of knowledge and nothing wrong with it. There are so many other guides available over the internet as well and they are worth reading.

I read the article, and I think that will help new traders to understand the lesson.
Yes, that is the basics trading that every trader should know so they can learn more about trading.
I think it is enough to use RSI, MACD, and Bollinger Bands as a guide to determine the trend and the price so they can decide what needs to do related to the market.
That is a good lesson for everybody here, especially for the new people so they can understand about trading.
Thank you, OP.

It’s okay and is not a big deal. If you have a link that can direct someone to a great deal of information, even if it’s yours, it is acceptable and thank you for it. After all it is just a redirecting link to a piece of knowledge. And I think the more these articles are shared and spread in the circles, the more the knowledge about crypto spreads and the more the crypto circle extends.

Thank you for your support.

By the way, I have written several articles for Paybis that are educational.

You are curious? Have you forgotten that word that says curiosity kills cat? If you have been using USD as pair and has full understanding of it, why do you want to try something you didn’t learn? Some of these pairs still require thorough understanding before you try them out, it is when you have better understanding about the pairs that you will know the right time to do the trade.

I have been trading my BTC/USD pair for a very long time now and I understand it better, which is has been giving me all the profits I have had and having in my trade, so I don’t see reason to change it since it has not become obsolete.

You have really committed so much time and effort into making this guide and I must really appreciate your effort and after going through it trade looks quite easy through it, but in the real life, I am not sure it is that easy man.

I have tried some several times and really could still not get used to it, some I won, and some I lost, but my losses are far more than my winnings. So at this point, I think I just want to stick with other means of making crypto money like long term holding and campaigns. I believe that this article will be very much useful for most of the newbies we have that are interested because of its simplicity.

Quiet a good write up I have seen many which I believe to recommend this to most novice we have in the trading crypto world, because the blockchain technology is really growing fast and one have to gain good knowledge of it before anything else.

I want to thank you  OP for this clear topic regarding basic trading it will help new trader that always ask how to start doing trading, I'm not a full time trader but I trade when I have time my basis is long term time frame because I can do trading for only short period of time. Its a good start to know some basic indicator that use to detect the price action of coins to decide when or where the right time to enter.

Holy Thanks.

Now I dont need to browse each thread or each page just to look for it. It was like summarized in one good blog.
Bookmarked it for future reference. I may need this if one asked for some tips on how to do it or maybe friends that is willing to learn on how to trade.

Good job on doing this.
Also for the efforts.  ;D

I do not trade as actively as I would like, so I cant call myself a successful trader. But I was interested in reading your manual. Useful reading is good, but you also need to pay great attention to practice.

Even if you trade all the time, since there is no perfect trading in the crypto market, there is no perfect trader as well and you only learn with the passage of time how to trade more wisely and profitably. I have been in crypto for some time now and I have been speculating and make money by holding rather than trading because trading was a big difficult for me.

Thank you for the article. That is an interesting article because we can read much useful information about trading and I am sure that will help every people who search related article. I found that there is a good lesson for new people too and when I read the article, I think they can understand what OP explain so I think they can follow and trying to use whatever inside the article.

I hope OP will give another lesson about trading so we can read the next chapter of trading and I am sure that many people will like to read the article because for myself, the article is easy to understand.

Reading all point from your article, I already using all that. I think you need to create more point about your emotion like Psychology, etc or maybe you can create your own rules for money management how much percentage you use to trading.

Nice tutorial. Been long I read a tutorial on cryptocurrency trading though. I prefer the simplest trading methods which are usually the most profitable for me. I tend not to rely to much on technical analysis

I am quite like you. I think the technical analysis is really redundant. In the cryptocurrency market, anything can happen because the price of everything is controlled.
that's why charts still can't tell the market situation. I just like basic analysis, evaluating businesses based on their potential and deciding whether to invest or not.

 Well I know there is nothing like perfection in the market, you still could be someone next to perfection if you try damn hard and wise. There have been people (talking about the earliest investors in crypto) who first learned and then executed and they had been able to make some good money. They might not be perfect traders but they had been rolling in millions and what else they want?

Wow man you did a really good job in writing this article. I like the way you took your time to state out every single guideline everyone who is still starting has to know about. And I also like your website, the design and everything, looks very simple design and the quotes you were stating there as well. You did a good job though I couldn't finish the whole article cause it was very long, so I had to quit. I'm not the type that reads too long articles, but from the little I read?? I can say you did a great, and any newbie that takes their time to go through your post will grab a one or two about trading. Nice job

I am not sure those earl investors were traders because Bitcoin was still very low in value when these early investors invested their money, and where they got their millions from is nit trading, but buy and holding their coins for future of Bitcoin, which the future was indeed bright and palatable for them when it came.

So it think the best way to easily make money in cryptocurrency without any form of tension should be holding these coins for a long period of time. Holding our coin, gives us freedom of mind, and also allows us to be able to do other things that will bring money to use pending when the long-term investment yields result.

With the basic analysis, we can get some information which will be useful for the sign for us to buy or wait for more. The cryptocurrency market will always be volatile, and if we could analyze with good, I think that lesson will be useful too for us so we can determine the good time to trade. Sometimes, we can find a little chance to trade because the market is moving fast, but that will enough for us to buy low and sell high.

It's really a very complete and detailed article. But now there are a lot of posts like this and traders say it's just a theory. If we don't practice, those knowledge will disappear over time.
I think the most important thing is to keep emotion and reason balanced. That is what makes you rich in investment.

Through practice, we can perfectly execute and make our own strategy in trading but of course, you will need to read a lot of books and articles about how professionals do trading. For some newbies out there the link of OP is quite useful for them if they don't have a clue about of trading.

  Yes it is detailed, so having knowledge about Bitcoin trading is like having the key to making money. Trading has been tremendously practiced by the crypto enthusiasts to make money in crypto but there is some huge level of difficulty attached to trading as well. This is why I think it is good to go through every trading guide that can increase your knowledge and yes, it works in the end.

Sounds easy right? Just like that. But to those who are new in trading, the hardest part is picking the coin or token to buy. Its not easy to pick a coin that we think has a potential to earn at least 2% in a day. However, if we trade regularly, experience will be our best teacher here because our mistakes will teach us that we should have not done that and should have gone the other way. Even setting those stop loss orders are not easy because if we set around 5% below our bought price, a sudden drop of price might trigger the sell order.

That's is correct mate need of quality time, focus, skills knowledge and full of understanding how to earn profita in tarding including self control and patience. Stress is part in the tradiing so meaning nothing can make to earn easily we need to spent more time to get earn.