Altcoin Trading for Novices

[BTCLovingDude]

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.

you can not earn $1000 a day but it is possible to reach a level of experience and knowledge in trading to earn $1000 a day someday after a couple of months or even a year of working hard to learn.

this is not an easy job that you get in, buy and become rich over night and repeat it the next day and become richer.

you actually have to spend a lot of time studying charts, news and see what is good to buy and when you should sell it for the max profit.

[shanem]

I don't recommend trading altcoin as you need to monitor your trades very often due to the big volatility in price movement. You need to be mentally prepared to see the value of your coins crash in a day.
Trading does not suit me as I prefer to look for undervalued coins and buy those that I feel that has potential.

[disconnectme]

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.

Can you recommend any slack channel to join, I myself I'm looking to sharpen my trading knowledge and skill. I will appreciate if you can post the invitation link for Slack channel

[harizen]

If you could leave any knowledge at all on trading...

From what knowledge in altcoin trading you have been now so far?

If you could leave any knowledge recommended sites...

Recommended altcoin exchange platforms depends on the altcoin you have chosen to play since not all exchange supports all altcoins. Like in Yobit, almost most of the coins are there including shitone. Poloniex only listing altcoins with active volumes etc.

If you could leave any knowledge good altcoins...

This is the challenge. No one can give you an accurate answer about good altcoins to invest. Most of the short term traders is looking at the newly COINS on ICO and they are taking the risk.

Since most the new coins can be acquired by cheap prices, they can bag more of it and will now play on an altcoin market trading.

[dwgscale11]

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.

Pro Altcoin Trading Tip:  Buy and hold Litecoin.  You will be scalped and eaten alive if you try any trading of shet coins.

[disconnectme]

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.

Pro Altcoin Trading Tip:  Buy and hold Litecoin.  You will be scalped and eaten alive if you try any trading of shet coins.

Your opinion is subjective, you say buy and hold LTC if everyone decided to hold their coins who will sell to the buyer. For me LTC has been very disappointing this year and I don't see this changing soon even with the SW implementation coming soon

[BitcoinHodler]

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.

Pro Altcoin Trading Tip:  Buy and hold Litecoin.  You will be scalped and eaten alive if you try any trading of shet coins.

Your opinion is subjective, you say buy and hold LTC if everyone decided to hold their coins who will sell to the buyer. For me LTC has been very disappointing this year and I don't see this changing soon even with the SW implementation coming soon

there is always day traders and also miners dumping so you don't have to ever worry about lack of available coins in the market to buy from. and that goes for all the markets not just litecoin.

also he is saying that because litecoin is one of those coins with a great future, profit-wise because of the development and also the involvement of the Chinese in it.

[densuj]

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.

You can try markets altcoins of poloniex for trading altcoins and the coins will be traded you can looking for and choose them on it https://coinmarketcap.com .
You don't looking for high profit is like you said making $1000 a day, it is good because there are easy ways to make money, but you must can make profit consistently although it is just a little.
And the other you must understand about analysis technical for making prediction of price, don't forget use idle money for trading. Good luck.

[jeffthebaker]

Don't waste your time looking at blog posts or youtube videos. Anyone who has a winning strategy isn't sharing it.

Your best bet is to put a bit of BTC into Yobit and just play around. Pay attention to the TrollBox to see what kind of cues people look for (and even more importantly, what NOT to do). Remain active on the announcement/discussion sections here in the altcoin forum, and overtime you will start to understand more and more about what you're doing. The more you know, the more $$ you can set aside to trade with. It's okay if you lose a bit at the start as long as you are learning.

Also, /biz/ on 4chan can be really helpful at times.

[JeffBrad12]

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.

Pro Altcoin Trading Tip:  Buy and hold Litecoin.  You will be scalped and eaten alive if you try any trading of shet coins.

Your opinion is subjective, you say buy and hold LTC if everyone decided to hold their coins who will sell to the buyer. For me LTC has been very disappointing this year and I don't see this changing soon even with the SW implementation coming soon

SegWit will be changing a little in LTC, They aren't having problems before without segwit. Like blocksize and totally the transaction was very short than bitcoin.

[Simperson]

I still like trading altcoins . I have earned some bitcoins in the year of 2016.
I will keep on trading altcoins with cheap coins in the year of 2017.
I wish I could get more some bitcoins for trading or investing ICO projects.