People who are successful, experienced traders - how did you get into it?

[razor5cl]

I'm new to the idea of bitcoin trading in general, and I was wondering how people actually get into it? It sounds like a lot of people have some sort of background in economics or finance, or work in trading in their day jobs and use btc trading as a sideline, are there a lot of people like this? Do people learn by losing money and then figuring out where they went wrong and correcting it?

I'm interested to hear people's stories.

[bestluck]

You are a newbie at here and at trade also so the better suggestion for you is that don't go for trading now, spend some more time here and with traders and try to learn more about trading from the tutorial available on internet and when you get pure skills then go to trade, then you will earn the profit.

[Shiroslullaby]

Most of the people that I've seen post on the forums that know a lot about trading Bitcoin and Altcoins
already had a background in stock trading, etc.
(I'm talking about the people that are posting graphs, solid math and reasoning behind their claims,
not just some wild speculation about how BTC will be worth $10,000 by the end of 2017 with no proof)

Since Bitcoin is a currency I'm sure the basic principals of currency and stock trading apply.

[Patatas]

I'm new to the idea of bitcoin trading in general, and I was wondering how people actually get into it? It sounds like a lot of people have some sort of background in economics or finance, or work in trading in their day jobs and use btc trading as a sideline, are there a lot of people like this? Do people learn by losing money and then figuring out where they went wrong and correcting it?

No,you don't necessary need to have a background in commerce to trade.In fact,all the big traders I have met are technically good and probably analyze the data with own strategies.It's the same data,different views.To start with,always go for a small amount and remove that "get rich soon" dialogue out of your head.While experience plays a vital role,taking right decisions while the ability to take risks is more important.If you start with small amounts you can get an idea how the system works and on what scenarios you're likely to lose money.So yeah,start with a few satohi's and as you're getting used to the system,invest more.Again.,don't be over confident.Stay upto date with the bitcoin related happenings parallely.

[deadsilent]

I'm new to the idea of bitcoin trading in general, and I was wondering how people actually get into it? It sounds like a lot of people have some sort of background in economics or finance, or work in trading in their day jobs and use btc trading as a sideline, are there a lot of people like this? Do people learn by losing money and then figuring out where they went wrong and correcting it?

I'm interested to hear people's stories.

You need to have knowledge in trading, not because you see some people who successes from trading doesnt mean you immitate them. You have to gain some knowledge and experience in able to be a successful in trading. Keep reading and searching what are the strategies that are useful for trading

[pooya87]

i can't say i am successful or experienced exactly but i got where i am now by starting small and slowly since i had no idea what trading is and how should i even make an order.
i read a lot, and did a lot of trial and error to find the right way and become better at trading over time.

so just don't go all in at first like investing 10BTC and losing it all. you can even start with $1 and test the waters.

[maydna]

the basic lesson you will need to become a trader is you buy bitcoin in low rate and sell when the rate is up. that is the most important point. and its no problem if you did not have any skill of trading, because it can be learned by doing. first i knew bitcoin, i do not know what is bitcoin, how to get it, can bitcoin be trading? but after i read and read more info, i know that bitcoin can be trading, and the simple thing i do when i trading bitcoin is, i buy when its down and i sell when its up.

but thats is my experienced in 1 years ago, and now i am trying to make good trading, at least i want to increase my profit, in one day i want to get at least 0.01 btc because i am not yet reach that amount before.

[jhenfelipe]

Same here. Can't say that I'm successful or experienced trader. It also took me some time before starting in trading (doesn't trade often though). I don't have a background in economics or finance, I just started reading online -- what is trading and how I can earn from it. There are lots of articles available where you can get ideas from. Since trading is a bit risky, I also started using small amounts, of course, because I don't want to lose all my earnings. I think if you get the idea already, it's better if you try it (small amounts will be a good start), for you to know how it really works.

[camohitmishra]

I'm new to the idea of bitcoin trading in general, and I was wondering how people actually get into it? It sounds like a lot of people have some sort of background in economics or finance, or work in trading in their day jobs and use btc trading as a sideline, are there a lot of people like this? Do people learn by losing money and then figuring out where they went wrong and correcting it?

I'm interested to hear people's stories.

The basic rule of investin remains the same.
In simple terms, the age old rule of economics

"The more the demand and scarce the supply, the larger the value."

U need to hav analytical skills, not much advanced, just basics. With experience u will get advanced.

For example, understand the utility of the product, its prospectiv usage, its system or strategies which will involve more and more people. These things will create the demand. If u think on analysin that demand will rise then its value will rise too.

I dont know about BTC because I personally believ the time when BTC can make people RICH is gone. But I do believ in crypto currencies and I am damn sure these will make people millionaires or billionaires.

[fortunecrypto]

I do not consider myself as an expert but I am making a few bucks from trading if you are talking about altcoin trading ,there are many factors involve like the roadmap of the dev,the pumper who made a lot of noise in that chat roll and of course how active the support of the community of a particular coin

[densuj]

I don't too successful on trading but i got bitcoin constanly from it, i use system trading or method trading are like analysis tecnical, management margin and risk, rules of entry and exit market and psicology trading. I think you must try my method i hope it is worth for you.

[newcoins1978]

I don't find my successful, but i know how you can become successful in trading.
Try out as many tutorials (also paid ones), from there start experiment with different trade techniques.

[BitcoinHodler]

the key is trading without getting greedy.
it means you should get in and get out as fast as possible never wait for long to sell if you get some profit then and enjoy the profit because waiting most of the times lead to losing.

[CoinBreader]

expect from some trading skills you gonna need understanding the charts, you must also read a lot for the coin you wanna invest/had invested etc because there is a big chance you fail & start running on a shake out, if you have done your homework right then you are FUD-proof also... shake outs & FUD cause panic, and this will lead you to a loss , and since we are in cryptoland with no limits up/down , it is good to be ready for a crazy ride!
So it is better to start with small amounts see how it will go, and remember bigger amounts are more hard to enter/exit fast, best advice i can give you is enter & exit is best to be done from buy walls

[crairezx20]

the key is trading without getting greedy.
it means you should get in and get out as fast as possible never wait for long to sell if you get some profit then and enjoy the profit because waiting most of the times lead to losing.

Yeah be satisfied of the price increase if you already maid even a small amount sell it and wait again for the price decrease and buy again..
That is the common way to make a profit.. in trading..

[lavapits]

I'm new to the idea of bitcoin trading in general, and I was wondering how people actually get into it? It sounds like a lot of people have some sort of background in economics or finance, or work in trading in their day jobs and use btc trading as a sideline, are there a lot of people like this? Do people learn by losing money and then figuring out where they went wrong and correcting it?

I'm interested to hear people's stories.

if you want to be a good trader, you have to know that currency very well so you will be able to predict upcoming price pumps or dumps

[mobnepal]

I am actually a food technologist however i am earning enough monthly with trading altcoin and bitcoin for my living. So i think from what background you come doesn't matter for success in trading, i have also seen few other peoples who have different background than IT/finance field but are earning good online with forex and crypto trading.

[harizen]

I'm new to the idea of bitcoin trading in general, and I was wondering how people actually get into it? It sounds like a lot of people have some sort of background in economics or finance, or work in trading in their day jobs and use btc trading as a sideline, are there a lot of people like this? Do people learn by losing money and then figuring out where they went wrong and correcting it?

I'm interested to hear people's stories.

Having a background about economical and market related terms isn't necessary for a person who wants to do trades, at least in my case.

If a person really wants to learn the art of trading, they will seek deeply about all the information they can get. But of course, reading is not enough if they will not put themselves in the actual scene.

Like you stated in the last part of your post, yes failures from trading experiences making us a good trader. There is no trader who doesn't experience loss in my own point of view.

[Mumbeeptind1963]

Many people now get successfull in trading because for they hard working and they motivation in trading. If you have enough capital in trading you get high profits and you earn them all to increase your your capital so you become successfull if you have a good traders.

[bitcoinmasterlord]

the key is trading without getting greedy.
it means you should get in and get out as fast as possible never wait for long to sell if you get some profit then and enjoy the profit because waiting most of the times lead to losing.

That is true, and one shouldn't trade with borrowed money because this kind of day trading is quite risky. In case one lose borrowed money then they will end up in a worst situation. So don't ever try to trade with borrowed money and sometimes we can't make quick profits because after we buy than the price may not go up immediately, and we may need to wait for longer time.