Thanks again everyone for your advice and encouragement.

I have started with some small trades, limiting myself to $100 max. per coin, investing in coins I have researched and analysed the charts on - so far I've made $16 and lost $4 - so about $12 up. In addition to that the recent price-hike in BTC has netted me some profits too - but that's pure luck as I didn't anticipate BTC would go up.

Either way, it's great to learn this way. I understand the point some people made about using a demo account, but I think the psychology of having "real" money at stake (even a small amount) is something I want to learn to deal with. I always set appropriate stop-limits to avoid big losses, so hopefully that strategy pays off.

In addition to some small short-term trades I have also bought into some well-known blue chip coins, with an aim to just leave the money there long-term.

One more question: So far all my trades are in BTC to whatever, when I reach my target I convert back to BTC. Is it sensible to do that, or should I also look at trades in ETH, XRP, USDT, etc?

Thank you all very much for your advice, it's been really helpful reading through the comments and some of the other posts on this forum.

Some of you suggested to start with day (short term) trades using small amounts of money. I think that's how I will start and see how I get on.
Just some practical questions now - assuming this is all regarding day trades:

- On TradingView.com, when you analyze a chart, do you look at the hourly chart, 2 hours, 4 hours?
- I know it's called "day trading" but how long should I expect to hold on to a currency on average - hours, days?
- What's an acceptable and sensible target profit percentage and stop-loss percentage?

Thank you again!

Hi all - I'm now to the forum and new to crypto trading. For the last couple of weeks I have been studying various charts and patterns using TradingView.com and reading lots of blog posts, articles, news, videos, etc. There is quite a steep learning curve to it - especially the technical analysis, but I think I'm slowly getting the hang of it - I've (fairly) accurately predicted a few trends on some crypto currencies I have been watching - I'm just trying to gain as much experience as I can.

I understand about spreading risk/hedging bets, and have a budget of about $2,000 which is what I could afford to lose (although I'd rather not!) and have created a bitcoin wallet and have opened an account on Binance.

Anyway - having read lots of articles I'm thinking of three, maybe four, possible strategies and I'm wondering what you guys would recommend a newbie like myself should focus on;


1. Long term trades - buy into various currencies where I believe they will increase in value in the long term. I have identified a few and think they may be profitable in 6-12 months or so.

2. Short term trades - I have seen some people describe this as "swing trades", where with some technical analysis I try to buy currency at a low point with an aim for it to increase in value and then sell it. Timescales being a lot shorter; maybe days or a couple of weeks.

3. Identify new and upcoming coins - the idea here is to research coins that are fairly newly launched. I need to do some more research if this were a viable option, but picking the right coin to buy into early could be very lucrative.

4. Short selling (margin trading?) - This is probably not a good idea at this point, I understand the concept of short selling but don't think I'm ready for this yet.

- Or if I'm completely on the wrong track or have missed anything, just let me know!


Looking forward to reading your views. Thank you in advance.