My first day of trading

[m_01]

how you guys do bitcoin trading? Any exchange or wallet specifically for bitcoin?

[KaliLinux]

A couple days ago I transfered enough from my bank account to buy 1 Bit coin.  While waiting for the $ to make it from the bank to the exchange I had $75.00 invested so could use it to practice with.  Keep in mind that I had no experience with bit coin trading and my past day trading did not go well.

Today I saw that SC (Siacoin) was above 10% and volume was above 10,000.  It was also very active pumping up and down.  I did four buy and sell trades, not aiming for much more than 5% profit on each one and increased my $75.00 to $91.00.  It was a great leaning experience.  Also very humbling because on the first trade I made a mistake and lucked out.

Scott

Your limits looks good. 5% of margin expectation set to yourself will always gives you positive mind set and help you to will avoid disappointments.

Just keep learning them and control your expectation on huge profits. Switch to more alt coins that will capture the market in future by doing your own analysis
Good start.

[Vikingr]

Congratulation, keep learning and making mistakes (of course with moderate risks), you're on the right track

I think of trading as the best way of making money and that too trading of bitcoin. As far as first day regarding trading is concerned, I think it starting of some new chapter of your life. You are going to learn a lot of things in this field. If you remain confident in making wise decision, you are going to earn avery good amount of profit. Just remain patient and learn from your experience.

[Turkiwi]

Hi Scott. It's great to hear that your first trade was successful, but make sure to be vigilant about these kind of profits, they usually mess up your mind and you believe that you can't lose or that nothing can go wrong, until it does. It's always motivating to win, but imagine that your first trade would be a complete loss, or that you'd lose the 20 bucks you made, would you continue trading? And if yes for how long? The best thing you can do is to hold as much as possible and try to minimize trading, just buy directly from exchange the coins which aren't availble on other channels, and hold them, look for good ideas that can generate profit in the long-term instead of focusing on short-term gain. Trading is not easy and it might leave you sleepless at night

[dameh2100]

Wow. Excellent experience as a beginner. Unlike my experience, everything I did, just like learning trading technical analysis, how to put emotion up, and  more, but I'm still stuck. Maybe it's trading, will lose sometimes but I know I can get up and will not give up.

[Casmania]

Wow. Excellent experience as a beginner. Unlike my experience, everything I did, just like learning trading technical analysis, how to put emotion up, and  more, but I'm still stuck. Maybe it's trading, will lose sometimes but I know I can get up and will not give up.

As for Scott, a job well done to you. That was a good start for a beginner although he did a mistake but he did succeed in making a profit. A $91 from $75 is quite a progress especially that he is still a beginner. That’s around 16%.

Trading could also be a matter of luck. It’s good to hear that you aren’t discouraged by the bad start.

[rachelia13]

The first day of trading in bitcoin I was so lucky because  get a lot of profit and it continued up to a week later, but then I was interested in altcoin so I tried to bought doge with bitcoin I had, when i bought it, Doge prices are very highher, but after I bought the price of doge plummeted drastically, i lost my  capital almost 50%, since that I only trade in bitcoin and sometimes bought XLM

[Beremat]

The first day of trading in bitcoin I was so lucky because  get a lot of profit and it continued up to a week later, but then I was interested in altcoin so I tried to bought doge with bitcoin I had, when i bought it, Doge prices are very highher, but after I bought the price of doge plummeted drastically, i lost my  capital almost 50%, since that I only trade in bitcoin and sometimes bought XLM

In my opinion, you should focus on investing in few main coin such as BTC, ETH, Ripples,... You should not invest in coin what has a not clear history or it just release for fun like Dogecoin. 

[Svener]

The first day of trading in bitcoin I was so lucky because  get a lot of profit and it continued up to a week later, but then I was interested in altcoin so I tried to bought doge with bitcoin I had, when i bought it, Doge prices are very highher, but after I bought the price of doge plummeted drastically, i lost my  capital almost 50%, since that I only trade in bitcoin and sometimes bought XLM

In my opinion, you should focus on investing in few main coin such as BTC, ETH, Ripples,... You should not invest in coin what has a not clear history or it just release for fun like Dogecoin. 

As a newbie to trading you don't have to experiment too much otherwise you gonna lose your capital.Like you said focus on stable coins i suggest bitcoins because it gives you more profit than others.Learn from your own mistake which give you such knowledge that cannot give by others
Happy trading.

[dieselmeister]

Good job! I think that not everyone can do it. But becareful with Siacoin, its price has fall down 5.88% today. Hope it can recover soon. 

[mast3rm1nd]

A couple days ago I transfered enough from my bank account to buy 1 Bit coin.  While waiting for the $ to make it from the bank to the exchange I had $75.00 invested so could use it to practice with.  Keep in mind that I had no experience with bit coin trading and my past day trading did not go well.

Today I saw that SC (Siacoin) was above 10% and volume was above 10,000.  It was also very active pumping up and down.  I did four buy and sell trades, not aiming for much more than 5% profit on each one and increased my $75.00 to $91.00.  It was a great leaning experience.  Also very humbling because on the first trade I made a mistake and lucked out.

Scott

congrats mate; I like your strat and discipline. I hope you stick to that once you scale up and don't catch FOMO.

[noictib]

A couple days ago I transfered enough from my bank account to buy 1 Bit coin.  While waiting for the $ to make it from the bank to the exchange I had $75.00 invested so could use it to practice with.  Keep in mind that I had no experience with bit coin trading and my past day trading did not go well.

Today I saw that SC (Siacoin) was above 10% and volume was above 10,000.  It was also very active pumping up and down.  I did four buy and sell trades, not aiming for much more than 5% profit on each one and increased my $75.00 to $91.00.  It was a great leaning experience.  Also very humbling because on the first trade I made a mistake and lucked out.

Scott

Here in the trading every loss and every profit teach us a better lesson to the trader Because with the profit we got the idea that why we got that profit and what implementation we can introduce so that we can do that work more perfectly .
And in case of loss we got the knowledge that why we got the loss and what was the real mistake , is there was any chance to change that loss into profit , and what we can do , so that we don't get in that way of where we lost the money .
So such types of things and experience get in our mind and step by step and day by day we got much experience in this field ( same things happened with )

[zanezane]

A couple days ago I transfered enough from my bank account to buy 1 Bit coin.  While waiting for the $ to make it from the bank to the exchange I had $75.00 invested so could use it to practice with.  Keep in mind that I had no experience with bit coin trading and my past day trading did not go well.

Today I saw that SC (Siacoin) was above 10% and volume was above 10,000.  It was also very active pumping up and down.  I did four buy and sell trades, not aiming for much more than 5% profit on each one and increased my $75.00 to $91.00.  It was a great leaning experience.  Also very humbling because on the first trade I made a mistake and lucked out.

Scott

congrats mate; I like your strat and discipline. I hope you stick to that once you scale up and don't catch FOMO.

Well yeah it's a good thing that OP chose a good coin while others are having hard time to pick a coin for their start up and it's nice strategy to be look forward.
I hope after 4 months he posted this he still have this good strategy and earning decently.

[BitcoinPC]

Other things to keep in mind are the fees that are all over the place. There are a few exchanges that have coins that are not available on the others, in order to make money trading those coins, we have to beat out the trading fees and still have enough of a mainstream coin to withdraw and have made money. These can kick your butt, many small traders jump on a 100 Sat difference in price and give that money right back to the exchange in the fees here and there.

[Hanebel]

Good for you! I really like to try trading but I don't have the guts and I am afraid to gamble my hard earned money. I hope one of these day, I can face my fear and learn to take risk.What do you think is the best thing to do to avoid big loss?

[Synaesthesia]

Good job, man! With an unexperienced person, getting profit from the first trading is perfect! Maybe you were also lucky. My first day is not good, I bought 2 altcoins and after 3 days, I lost $50. haha. that a is a nice memory! 

[haroldtee]

Good for you! I really like to try trading but I don't have the guts and I am afraid to gamble my hard earned money. I hope one of these day, I can face my fear and learn to take risk.What do you think is the best thing to do to avoid big loss?

It's good you want to face your fears. However, it is not about the fear alone, cause the fear is something that can be discarded if you learn first. Trading is not gambling and you need to have some good knowledge to be able to trade safely.
So, with respect to your question, the best way to avoid big loss from trading is to hit the books, youtube or google to learn how to trade. I will recommend Youtube anyway and you can search for quickfingersluc as his methods really helped me from the start on how to start trading safely and effectively.
Don't jump any of the lessons from the start, and once you can learn, you will know how to proceed and what to do before you trade, which would give you enough confidence to make the right decisions.

[ukboss]

Everybody don't know when he start trading but sometime latter he know about trading, How lose big money they teach a huge experience with trading so first time everyone lose and sometime latter when he understand market movement then he make a some money . It is the same case with me when we start trading on that time we don't know how to sell order and buy order then we try and watch video tutorial then we know details of trading.

[kuronokishi10]

The first time i traded it ended up horribly wrong,i could have settled with 15% profit but i got greedy and lost almost 150 usd.At that time 150 was a very significant amount for me.
The more you trade and increase your experience and get exposede to all the different methods the better it is.
Btw keep it up.

[bitcoiners25]

My first trading was not good because i dont have the idea how to trade, I've lost my 10$ in just 5 minutes. But now Ive tried my best to know what are the secrets in trading. By the way im trading in poloniex. First trading site that i've encountered.