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

[arwin100]

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

You cannot predict the pump or dump eventhough you really do some research to it or even if you stalk the dev its because the traders and big whales are controlling the price thats why its better really to be more patience and make sure to check the coin if it is active or almost to be dead to avoid lose money for it like just what happen on my past tradings i lose many for those shitcoins listed on yobit and thats really really bad experience for me thats why i grow up to be better trader

[Indrawan77]

Professional traders usually has course or lesson before they involve in trading, it need times to learn how to trade properly but the best teacher is from the experience
Trading need huge  amount of knowledge, the first one is updated news and the second is how to read chart, that is the 2 most important things in trading, then from experience you will know when is the best time to buy or to sell
I suggest you to try trading with small amount or just simply practice in free mode (if you can find one)

[shinratensei_]

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.

The profit of daily trading is unpredictable and very risky to trading using borrowed amount, we don't know does it's possible to gain profit until the day of pay off is coming. it's really not recommended trading with borrowed amount.

[garundang]

i started with small amount of bitcoins and i had some luck with trading as most of times i found perfect moment when to buy or sell, before huge price crash or rise

[waterholeIO]

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.

There's really no background needed. My partner and I were not educated in finances and economics (just the basics) and had our own full time job as well. We learned a lot through trials and error, and from scams and fraud first hand. It was difficult at times, and there were times when trades were so slow that we wondered if we should continue. Since we were quite active and one of the top sellers at LocalBitcoins for cash deposit in the world, we were the target of a lot of new scams so we had to develop ways to prevent them from occurring again and taking an active approach of what *might* be a future possible scam.

[Herbert2020]

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.

no you don't need a background in economics or finance, that will help you greatly though, but it is not necessary to become successful because that is something that you can gain along the way.
i have started from a small amount and just playing around with trading for a while and then over time as i were losing money and earning a little profit (more loss) i started learning more about how trading works and learned about economics and all those technical stuff and analysis which helped me a lot.

[davis196]

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.

99% of the time success is just build from trial and error.

People who don`t give up succeed sooner or later.

This applies to bitcoin trading as well.

[marky89]

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.

99% of the time success is just build from trial and error.

People who don`t give up succeed sooner or later.

This applies to bitcoin trading as well.

It's more than trial-and-error. People who trade that way will lose over and over. You need to develop a robust, back-tested strategy and have a proper risk management (risk vs. reward) plan for your trades. You need to be employing a profitable system from the get-go -- so the first question is: Do you have an edge? If you do, you may lose in the short term, but you should be profitable long term. Being a successful trader is all about employing that strategy over and over -- and having the discipline not to stray from it. It's easy to "tilt" and start trading based on emotions, rather than your profitable system. That will blow up your account.

[Gahs]

From coimarketcap.com, you can get the daily price of all coins. It will be good if you draw out a table, write down the price of each coin for five consecutive days to have an idea of the good coins to buy and sell

[Dudeperfect]

If you are asking to specifically successful or heavy experienced traders then I am not eligible for it but since you have not mentioned any specific ‘experience’ point, I am taking benefit of doubt to give my two cents. I am trading from last 6 months but it’s less like a long term trading more like a short term investing.

I think success is something that enriches your knowledge and skills which makes you more sensible for next trades. I don’t measure it in binary like profit is success and loss is failure. I am from commerce background thus I entered in trading during my academic period and I think first time I dealt was in domains and then I opted in for crypto trade. I am looking forward to trade in stocks (right now doing it with simulator) let’s see how it goes.

[NetFreak199]

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.

Well for all newbie most people say you just need to buy low and sell high in trading, but the problem how can you know that the coin you buy is in cheap price?  You can know it if you multiple times trade it. More in experience ..

[Caladonian]

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.

Well for all newbie most people say you just need to buy low and sell high in trading, but the problem how can you know that the coin you buy is in cheap price?  You can know it if you multiple times trade it. More in experience ..

its really hard to know if you are just newbie to this kind of trading needed to have move study and do not rely on experience only, it is not because you got lucky ones or if you lose some you can rely on it, studying the flow is very important knowing instances on why or how the price will go up and down is very in need. I'm also a newbie right now and i keep on reading and searching for a better guide to learn more.

[eddie13]

I heard about trading and it got me into crypto..

My buddie said he was making a killing trading doge, I said I wanted in.. The rest is history...

[carlfebz2]

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.

Well for all newbie most people say you just need to buy low and sell high in trading, but the problem how can you know that the coin you buy is in cheap price?  You can know it if you multiple times trade it. More in experience ..

its really hard to know if you are just newbie to this kind of trading needed to have move study and do not rely on experience only, it is not because you got lucky ones or if you lose some you can rely on it, studying the flow is very important knowing instances on why or how the price will go up and down is very in need. I'm also a newbie right now and i keep on reading and searching for a better guide to learn more.

Thats the right thing we must learn first  and study about trading before we jump into it because  if we rush to trading and we dont know what we you are doing then for sure you would lose all your coins. Trading skills and decision making in every trade is very important. Just trade in small amounts at first, practice makes perfect even though you cant make perfect trades always but you would  have a good history on making succesful trades.

[eddie13]

I suggest allocating like .01 - .05 BTC to trading and just jump in head first..

Just understand that you are going to loose most of your starting amount before you get the hang of it and gain enough skill to be successful, but that is a pretty cheap education..

By time you make a thousand trades or so you'll know what your doing..

Just hang out at an exchange, ask a hundred stupid questions in the trollbox, watch the markets move and make trades..


I think that needs to come first, all the reading and information in the world won't do you much good untill you know how to apply it.
You need to learn how to trade before you can learn how to trade well with skill, intuition, and instinct..

[ivanst776]

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.

Don't limit yourself that only those that have finance or economics backroung are able to trade.

Trade is free for everyone but not everyone enjoy and earn through the trading.

Before taking any step you should first make some calculation(you don't need to be good at math because there are many websites online which offers to calculate with the percentage) how much do you have to invest, how much you expect to earn, is that amount realistic, is that possible, how long you estimate to wait to earn this amount etc.

People learn a lot when they lose their first money in trading because next time they wouldn't make the same mistake again, for example investing in some altcoins which people are not much interested, the daily trading volume can be very low and so on the coin ends at one or few satoshi.

[hosni200]

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.

thanks  for  explaining <<,  my  question is : can you sir  explain  your  strategy  exact  to traiding? thanks a  lot

[waterholeIO]

One of the most remarked (yet most ignored) advice for anyone doing anything related to finances/economy/business is to read the news every day, business news. Take 10 minutes of your morning to read Bloomberg at least or any reliable business sites and your views of the world would change. Now take that and apply it to the Bitcoin world.

[Sergiorr101]

I can't say that i am  very good or experienced trader. But, Somehow i managed to get profit now. And  i don't have any strategy, i just trade how i feel that it is good to.

[gandame]

Many people got successful in trading because many of them have big amount of capital they can trade for a long term but as of me i have only small amount to roll in trading so i do only short trade to make profit and to earn it. I experienced to buy a dead coins when that time i buy it in a high price then that coin dump until now is sleeping.