Getting started with trading altcoins

[anon4250158]

I'm looking to get into the crazy world of trading altcoins.  Are there any experts here who would like to give some tips and tricks to a newbie, and maybe some resources you think would be helpful?  How do you decide what coins to invest in, how long to hold?  Would you recommend bots?  Any good software out there for analyzing the crypto markets?

[megatrend66]

Hi

I CAN HELP. WHAT do you want to trade and why?

It is not a crazy world. It is the normal world of the future!

[twiifm]

Hi, you do not need help. All you have to do is read plenty. Because many people here try to make money, but many of them give unnecessary information. Coin news sites will be good to follow regularly and read the messages of reliable people on the forum. You can probably lose your money in the beginning, so invest in small amounts initially.

[Lhiedek05]

If you are really looking for trading  you should : first have knowledge of what you want to do, second you read alot in this forum, third dont ask for help when it comes in trading check out all the thread in this forum there are  different section any many thread about trading here... Tips when you are investing take bit by bit ... Have patient and study alot.. Good luck mate

[elektibi75]

Read about top 50 coins, get on official Slack, twitter, telegram to ask any questions about it and invest in those that you trust and understand.
That's how I started.

[RJX]

You trade altcoins as you would any other currency considering the following pointers which have helped me when I was where you are:

-Do your own homework and base decisions upon that. Don't trust anyone giving you investment-advice, like in a trollbox, as they are likely to leave you with a bag full of nothingness.

-Study japanese candlestick charting techniques, you'll find plenty sources online. Like this one

-Try to participate in airdrops as much as possible because these give you free coins which always sells for a profit, however small it may be.

-Try to be not too greedy, it will blind you.

-If it's too good to be true, it probably is.

- Limit your time spent on tradingplatforms. Sleep is neccesary for a clear head and you need a clear head when playing with money. Don't trade drunk for example.

- Don't play with money you cannot afford to lose.

I wish you good luck and a prosperous future.

[amaral1977]

1. Only use money you can afford to loose ( when you get a bag of alts it´s better if you have the time and nerve to wait for it to recover than to sell at a loss.

2. Choose well establish , high volume exchanges ate the beggining. Poloniex, Bitfinex are only examples of such exchanges.

3. Choose high volume coins to start with. Like top 10 in volume from one such exchange.

4. Start with small amounts

5. Try to learn the basics about chart reading and tech analysis

[anon4250158]

Thanks for all the tips everyone.  I'll definitely be spending a lot of time on this forum reading about trading.  You know how day traders have special software that detects certain movements in the markets?  Does anyone know if there is any software like that for any of the crypto exchanges?

[Altcoinmarket]

Thanks for all the tips everyone.  I'll definitely be spending a lot of time on this forum reading about trading.  You know how day traders have special software that detects certain movements in the markets?  Does anyone know if there is any software like that for any of the crypto exchanges?

Likewise, people. This has been very helpful for me too.

This is definitely a big space to watch out for, with a lot of research and considerations to be done.