Altcoin Trading for Novices

[Stalin128]

Note: I have a limited knowledge of Bitcoin and even more limited knowledge of various altcoins

I would like to begin trading altcoin to make small amounts of money, I have read many articles on this site, and understand that I will not make 1000 dollars a day. If you could leave any knowledge at all on trading, recommended sites, good altcoins, etc. it would be greatly appreciated. Please use laymans terms. If you require any further specification about my question, I implore you to ask. Many thanks in advance.

[Bitcoin_Delivery]

When i started to learn on trade altcoin, i've started searching on Google where you can find everything.....first of all i suggest to understand how an altcoin works: (difference between all kind of altcoins, generation blocks, money supply, coin emission rates, marketcap, difference between PoS and PoW etc.), and then look to understand how exchanges and markets works.

There are a lot of resources online available and ready to be read, i can suggest you to visit this link http://alunacrypto.blogspot.it/2016/03/bitcoin-altcoins-trading-complete-guide-cryptocurrency-tutorial-trading-strategy-fundamental-analysis-technical-analysis.html
where a big part of this wonderful world is well explained

[thepo1m]

http://alunacrypto.blogspot.it/2016/03/bitcoin-altcoins-trading-complete-guide-cryptocurrency-tutorial-trading-strategy-fundamental-analysis-technical-analysis.html

Thanks for this link, it is quite  helpful, though have started trading Altcoins but not a daily thing for me but this introductory article open my eyes to some little details I use to overlook

[gloana]

altcointrading can give u huge winnings and huge losses. Do a lot of research bevor investing any amounts.

[MicroGuy]

Note: I have a limited knowledge of Bitcoin and even more limited knowledge of various altcoins

I would like to begin trading altcoin to make small amounts of money, I have read many articles on this site, and understand that I will not make 1000 dollars a day. If you could leave any knowledge at all on trading, recommended sites, good altcoins, etc. it would be greatly appreciated. Please use laymans terms. If you require any further specification about my question, I implore you to ask. Many thanks in advance.

It's possible to make money trading altcoins if you dedicate yourself full-time to the task. Keep in mind always that the market is a lagging indicator. Then work hard and stay ahead of the news. Community forums, team channels, and places like the Bittrex slack, are just a few examples of information rich sources.

[dannyk88]

I have done a lot of research and studying of basic stock markets and try to apply that theory and tool to crypto and sometimes it works sometimes it doesnt.


I do want to take this course at some point


http://www.therationalinvestor.co/

they are also affiliated with coinigy and they has a podcast every week on youtube about the alt coin markets and some research and stuff


https://www.youtube.com/channel/UCdaJtMEVnuhTXSsSwA93sGA


Check em out.

[bbc.reporter]

Another good way to learn is look for a trading coach to guide you constantly. If you cannot find one there are groups of traders who talk at Slack or at Telegram. Everyone is welcome to join them. It is important that you ask a lot of questions and do not be afraid to make mistakes.

[robelneo]

Youtube are full of this,you can check it out I started trading as soon as I got a small amount of bitcoin to experience and see how it all works and learn it the hard way,losing is imminent ,when trading it's about people buying and selling and one is bound to lose it's a never ending cycle,you need to take it seriously learn a lot and never stop learning.

[tbolt256]

with bitcoin on the rise, is it wise to invest in altcoins now? or should i wait for sometime till bitcoin settles?

[flyingcat]

Altcoin trading is simply gambling. There's virtually no value there. Watch for bump and dump and try to follow as quickly as possible, especially for sell.

[Bitcoin_Delivery]

Altcoin trading is simply gambling. There's virtually no value there. Watch for bump and dump and try to follow as quickly as possible, especially for sell.

That's no proper true, maybe better to say that trading can be also experienced like gambling in a sort of way, if you approach to trading by the side of Pump n dump...
With gambling, if the outcome is not favorable, you'll end to loose everything....in trading you can also loose all, but most of time if you make a bad investment you can always have the chance to limit loss or get back your money....
According to my experience, shorters for fas and higher gains are terms of investments, highers are chanche to loose your money.

[Derek492]

Start with very small amount and learn by doing from your own experiences. That is the best teacher. Develop your own strategy over time that works for you. 

[irukandji]

1. Paper trade before you trade for real.
2. Have a plan and stick to it.
3.Change your plan if you have to.
4.Don't trade more than you feel comfortable with. Position size is  important

[thebatletbet]

altcoin trading is very high risk
in waves price is very high is compare bitcoin trading
if you have not skill is very danger if trading use pair altcoin
you must power full skill if can get profit in altcoin trading

[Piston Honda]

yeah, dont do it

[klarki]

At the forum a lot of useful information on this topic.

[Vikingr]

Altcoin trading is simply gambling. There's virtually no value there. Watch for bump and dump and try to follow as quickly as possible, especially for sell.

He is asking for the suggestion of a better altcoin to adopt and I think if we invest in a better altcoin of some serious developers then there will be not any risk for us in that investment as with the passage of time the price of that coins will increase more and the investors/traders can earn a good profit.

[Cryptotraider16]

Read and keep research and you will fin it! But you need to know no risk no fun!
I risk in 2016 a lot and make 1milion $+ but in 2017 i will make a lot more!
But with no money invest you cant make big money!

[ramdomi]

1. Paper trade before you trade for real.
2. Have a plan and stick to it.
3.Change your plan if you have to.
4.Don't trade more than you feel comfortable with. Position size is  important

Ok this guys knows what he is talking about. The hard part is not getting emotional and making bad moves based on emotion.

[Daffadile]

Note: I have a limited knowledge of Bitcoin and even more limited knowledge of various altcoins

I would like to begin trading altcoin to make small amounts of money, I have read many articles on this site, and understand that I will not make 1000 dollars a day. If you could leave any knowledge at all on trading, recommended sites, good altcoins, etc. it would be greatly appreciated. Please use laymans terms. If you require any further specification about my question, I implore you to ask. Many thanks in advance.

Forget everything else for now this is what you need !! Get yourself some XDE2 coin !! You can get it for free in their bounties.
It is a very strong currency just look at how it performs on the exchange.

Here is the Ann along with the bounties:

https://bitcointalk.org/index.php?topic=1310435.0