Trading Guide?

[talkbitcoin]

this is one of those things that you have to learn on the job, there is no prior teaching/guide/walkthrough that can help you trade well and earn money this way.
there are some general terminologies and some analysis but their usefulness in this market is not good.

[1715122857]

1715122857

[1715122857]

1715122857

[rally]

You have to look good out for altcoins with a good offers/sells that have on a day. I should not take an altcoin for example that only makes a few transfers on a day. That is a bit to risky. That's what i find. You can win very much, but also loose very much in a short time with such coins.
It is a little bit looking out for at what the lowest price was the last days and trying to buy some at that price.
Mostly have i had the luck that some time later they went again to a higher price.
ANyway, it stays always a risk and can go down very fast.
Never start with to big amounts. Try in the beginning with small amounts and try to learn and do some experience this way.

[Laosai]

A trading guide?

They're EVERYWHERE on the web. Just type trading guide on google.

The problem is not the theory. The problem is that nobody really understands trading.

As long as it works we're all here "yeah I expected that move, that's because of blah blah blah".

But sooner or later an unexpected event occures and BOOM huge loss or huge profit.
And no guide can teach you that

[Zeke2345]

A trading guide?

They're EVERYWHERE on the web. Just type trading guide on google.

The problem is not the theory. The problem is that nobody really understands trading.

As long as it works we're all here "yeah I expected that move, that's because of blah blah blah".

But sooner or later an unexpected event occures and BOOM huge loss or huge profit.
And no guide can teach you that

Learning how to read the charts and candles can for sure help you and keep you from flipping a coin. Do not thinl people are looking for a guide to profit but how to guide in how to go about it.

[bitmarket.net]

Hi,

maybe this will help:

Dealing with losses
A trader needs the self-discipline to stick to his plan and not be overtaken by the emotions of greed and fear.
When the trader expects the market to behave certain way, enters the trade and the market doesn’t perform as expected, the only correct course of action is the exit the trade.
Having to take losses is an integral part of trading – what matters is taking them early and not letting them to run away.
The trader cannot be stubborn or too proud – being right can never be more important to him than being profitable. Being a trader means being honest with oneself and being able to admit to being wrong.
Unlike in most of “ordinary” professions, in trading, there usually is not much grey area between being wrong and being right and little opportunity to blame the bad decisions on external factors – even though it’s tempting to look for excuses, the trader should always take full responsibility for all his decisions.
The trader has to remember that the market is always right, even if it’s behaving irrationally from his point of view – “markets can remain irrational longer than you can remain solvent”.
Staying in a losing position, apart from everything else, carries an opportunity cost – instead of hanging on to a bad trade, the trader could possibly use his skills and capital to generate profits from another trade.
The trader needs to learn to recognize the emotions he feels when he incurs the losses: they may range from self-pity to anger. When the trader is experiencing these emotions, his critical thinking is usually impaired and he might be not best placed to enter into another trade, even though this is often what his emotions are telling him to do (“revenge trading”). That is when taking a break usually is helpful and beneficial to the further performance of the trader.
No person is ever going to be able to completely eliminate emotions – one should be aware of them and learn to use them to his advantage.

[bitmarket.net]

Other than that, here I some questions you should answer yourself:

- what is your strategy ?
- what is your time horizon ?
- how much risk are you prepared to accept ?

My advice for the beginners is to start by watching the markets, do some "paper-trades", see what works and what doesn't and develop a trading plan.

Keep a diary of your trades, write down why you made each trade and over time you should see some patterns.

[bitart]

Is there a trading site that has a so called demo account? (Like most of the forex sites) Maybe it can be useful to learn in the beginning and after it can be done on a live account as well.

[BitTyro]

Is there a trading site that has a so called demo account? (Like most of the forex sites) Maybe it can be useful to learn in the beginning and after it can be done on a live account as well.

You can try avatrade.com
They offer demo account with free $100k to polish your skill. Take note tho that I have never tried it before so there is no way I can vouch for it.
Or, you can try signing up on yobit, after 7 days, you can collect free coins, just like collecting sat on faucets minus the captcha, and from there you can start trading the altcoins you have collected. This will take some time as you need to collect an amount equivalent to about 10k sat  to be able to trade tho.
Alternatively, you can just deposit a small amount to any exchange or trading site you are most comfortable to use with and start trading right away with a meager amount while polishing your trading skill. You can move it up a notch higher when you have found your confidence.

[bitmarket.net]

I would say that the 1st thing you need to master is the risk management - knowing how to limit your downside.

You should deicde before entering the trade what you expect the market will do.
If the market doesn't behave as you have expected it, get out, even if you haven't lost money yet and wait for another opportunity.

Please be aware that to be a good trader you need a lot of patience.
Trading (whether it is forex, stocks or bitcoin) is not meant to be fun. If you start making trades just because you're bored, you might as well go into the casino.

[shintosai]

i'm also looking for a great guide to do trading with bitcoin but just like others said there's no real strategy it is just your patient and own risk and how far you want to learn and made your own strategy, i'm still collecting those beginners tut and keep on watching some online video before i proceed.. i will keep on eye with your thread and learn with you from the the advice of those members who already in trading platform..

[bit1]

I guess luck must also be a key factor or am I wrong?

[BitTyro]

I guess luck must also be a key factor or am I wrong?

One way or another that may be true  because trading bitcoin is more like a gamble than anything else. You can't exactly determine its price movement because it is not directly related to any fiat governing institutions. IMO it does react to some news sometimes but other than that its purely speculations that drive the price of bitcoin.

[Zeke2345]

Is there a trading site that has a so called demo account? (Like most of the forex sites) Maybe it can be useful to learn in the beginning and after it can be done on a live account as well.

You can try avatrade.com
They offer demo account with free $100k to polish your skill. Take note tho that I have never tried it before so there is no way I can vouch for it.
Or, you can try signing up on yobit, after 7 days, you can collect free coins, just like collecting sat on faucets minus the captcha, and from there you can start trading the altcoins you have collected. This will take some time as you need to collect an amount equivalent to about 10k sat  to be able to trade tho.
Alternatively, you can just deposit a small amount to any exchange or trading site you are most comfortable to use with and start trading right away with a meager amount while polishing your trading skill. You can move it up a notch higher when you have found your confidence.

You made my day! Had no idea there was so many freecoins to collect and trade after I get the amount up. Awesome idea to get the toes wet and I had no idea that it was available.

[bitmarket.net]

I guess luck must also be a key factor or am I wrong?

Luck shouldn't have anything to do with trading, whatever it is you trade.

Trading / investing is all about probabilities and risk managmenet - you need to make sure your risk / reward is set properly, so you don't risk 5 btc just to make 1 btc and that you cut off your losses quickly.

You will always have some losses, you just have to make sure that they don't ruin your account and that you will live to fight another day.

[elloco4ever]

I guess luck must also be a key factor or am I wrong?

Luck shouldn't have anything to do with trading, whatever it is you trade.

Trading / investing is all about probabilities and risk managmenet - you need to make sure your risk / reward is set properly, so you don't risk 5 btc just to make 1 btc and that you cut off your losses quickly.

You will always have some losses, you just have to make sure that they don't ruin your account and that you will live to fight another day.

yes that's true its upto us that we have to do a proper research before trading keeping the current market situation in mind. bitcoin is something which can make you much richer if you play smart if not you will be at the losing end

[buyloewen]

Heres a basic swing trading scenario.
http://bitcoin-daytrading.com/bitcoin-swing-trading/

[Vyshnia]

You undoubtedly  should have a good internet-marketing strategy. This guys from Australia http://www.digitalrescue.com.au/ can help you They just saved my online store, so I hope they help you too.

[jack1111]

trading needs experience , so you can't make any money in trading without experience , I think you must be patience .

[MedaR]

trading needs experience , so you can't make any money in trading without experience , I think you must be patience .

I have jumped in without any experience and i was burnt very good.
Then i was sat down, and learned more about how system works, and what is important and what is not. Yes it need a time to become trader, but everything comes from heart.

You must have courage and will to join the club. Once you are there you will learn eventually but don't be greedy this is worst mistake you can make. ** Learn to deal with loss without feelings!**

[Herbert2020]

trading needs experience , so you can't make any money in trading without experience , I think you must be patience .

I have jumped in without any experience and i was burnt very good.
Then i was sat down, and learned more about how system works, and what is important and what is not. Yes it need a time to become trader, but everything comes from heart.

You must have courage and will to join the club. Once you are there you will learn eventually but don't be greedy this is worst mistake you can make. ** Learn to deal with loss without feelings!**

well, anything you want to do, you need to learn it first you can't just jump in the pool and hope to learn how to swim on the spot. you gotta start with small amounts of investment to test things out and learn how the price moves and how you can use it for your own benefit then little by little increase the amount.