Best way too learn is sometimes to jump straight in.

Youtube is the best resource in my opinion, as well as various website like babypips and many others.

However The quickest way and to have a headstart is get a mentor or hook someone up who trading experience and knowledge and will be able to give you guidance and save you months or years of learning

I have come back here after 9 months when I first go into crypto, knowing absolutely nothing.

Since then I have become a beginner trader and have learned a reasonable amount.

I have learned how to trade cryptos as well as stocks.

I think patience is incredibly important as well as thinking rationally.

My biggest mistake was trading with too large a balance and position size with very limited trading experience and knowledge as a beginner trader.  

This resulted in losses for me than if I had just held.

Can someone give a thorough explanation as to the difference in buying altcoins with bitcoin, etherium, tether, ltc etc.

I have been purchasing alts with bitcoin on btx.  However I have read a few posts on reddit saying you should use ethereum to make purchases and NOT bitcoin.

Can someone explain the differences in purchasing with different methods?

pros and cons, if there are any?

If there is cost implications?

Your valuble information wil be greatly appreciated

Thanks for the all the replies.

Ive only been in crypto for about two weeks tbh, after hearing about a friend investing in a recent ico.  

Since then Ive been researching, reading and learning as much as I can in my spare time on everything crytpo and trading.

I have built a small portfolio of about 10/12 coins over the last week and have seen them go up and down.

So just getting into the routine of buying and selling and trying different things.  Hoping to start trading slightly bigger sums by the end of the month and see how it goes.

I have set up small investment group of friends and were looking to buy £1k/1.5k of alts,btc,ico's per month and plan on doing it for a minimum of 24 months.  Hoping its an invesment worthwhile lol.

I would like to know what research the full time day traders do before trading any particular coin? and what their trade entry and trading procedure is during the day?

Do you have a daily take profit target?

Do you go by a checklist before making a trade entry?

Do you Look at an exchange and make a trade entry on a coin going up by a certain percentage?

Do you mostly buy/sell your positions on the same day?

I know its a lot of questions and will generate different answers by different traders and probbably answered somewhere already, but this help would be extremely useful to a newbie like me.

I do understand the basic concepts fundamental analasis and technical analasis etc when looking at markets and know that news and trend patterns are what most professional traders look at.

What sum of money do YOU day trade with? and how much profit do you expect to earn?

It would be interesting to know how much gains (if any), different traders make on a daily or weekly basis and what sort of capital they invest to try and profit.

Looking at many of of the exchanges, you see many alt coins going up by two digit gains so I would assume capital investment of between £1/5k on some of the ascending coins would bring back a decent return?

Noobie question to all you professionals.

When you purchase a coin say in an uptrend and set a stop loss at purchase price or slightly below (say 5% below)

Wont that mean your loss will be minimal or even none?