Trading beginner tips!

( Brought to you by Licensium & Trusted Nodes team members https://bitcointalk.org/index.php?topic=2129844.0)

1. Regularly read Bitcointalk forum
2. Check coinmarketcap.com for current real coin values
3. Check coinmarketcap.com history of coin you are interested in
4. Check the ANN thread of the coin on Bitcointalk
5. Many coins have their own blogs/ forums you need to follow to be up to date
6. At start choose coins that are already established and stable
7. Make yourself a portfolio of 3 - 5 coins for start
8. Do not jump in ongoing coin pumps, you never know when it will dump.
9. Make yourself a strategy for coins you will long term invest and maybe 2 gamble coins that are more risky but offer higher profit.
10. I recommend starting with Bittrex I cannot recommend Bittrex anymore because they need to verify your IDENTITY in order to let you withdraw BTC and alt coins.
11. Do not instantly sell your coins if they dumb instantly for no obvious reason ( research why)
12. At the beginning its better to aim for small profits like 5% - 10% +
13. Always keep some BTC to react when needed (buy)
14. Start slowly, take your time. 2 month in research and observation is recommended.
15. Always reinvest a share of your profit in your favorite coins and use a share of profit to gamble
16. Do not jump instant in new coins with big investment. If it looks promising to you start low and follow the progress.
17. If you advance and make good experience you could start to invest in icos, but watch out lots of scam around.
18. Pull out some % in USD from your profit from time to time.
19. Control your emotions when the prices is going up or down.


* Additional Tips from community members:

20. Never be emotional in your trading. Be objective! (thx to @Investor for the tip)
21. I also advice that when you already developed a good trading strategy, you stick into it and keep your discipline  (thx to bamboylee for this tip)



Good luck!

Would appreciate to add more tips to the list to give some valued info to beginners!

Thx for the input!

1 question:

"the market cap should not be below $10.000.000"  Why not? I do have some coins with cap 2.5 mio and I cannot complain. Can you elaborate why you aim for 10 mio cap?

bitcointalk is very good but it also is filled with lots of FUD and false information. specially about altcoins, people always hype them up when they aer bag holding not when they are low and starting to rise.

it is best to check the exchanges to get the live data instead in my opinion.
mostly because the charts on exchanges are a lot better than the charts on coinmarketcap.com

the same as #1. it is good but as long as you are aware of the hype.

for starters, i agree. this is a good suggestion. but jumping on pumps is one of the good ways of making profit consistantly every day.
i find it better than holding an altcoin and hoping for its price to go up.

it depends on how much it got dumped and what coin we are talking about.
sometimes some coins are not worth hanging on to.
sometimes the dump is going to be big and selling with a stop loss is much better than just holding on to something that is losing value.

---

i agree with the numbers that i didn't quote.

Agree, I also do it like that just my % are a bit different, But same strategy and till now it works (most of the time :-))

I do have the feeling that smaller cap sometimes attract buy-and-hold investors more than the larg cap coins. Whats your thought?

Thanks for the depth you went to educate our forum members. Education is the key for every endevour in life. This will help a lot.

Thanks for the advice sir This will surely help the beginners like me in terms of trading or exchanging different coins.

OP, I agree with most of your posts but I believe a good advice for a beginner will also be to watch videos about coins on youtube from time to time. And I really don't get your #15 advice. I think recommending a newbie to gamble with some of the earned money is a rather bad advice. Moreover, you talk about investing the profit one made.. I believe some profit has to be withdrawn, for otherwise there's no profit at all.
I think low cap coins are just too risky for one to invest in them, you know. They can be pumped and dumped to easily by their creators. It's better to invest in big cap coins, they are generally more stable.

x2.

Also, if I may add onto your list is that buy the dips whenever you see the opportunity to do so because top-notch coins is going to recover when that happens.

start off by buying some ark now, still very low marketcap. ark should be a top 5 or top 2 soon, well, after bitcoin of course. just ignore other scam craps with so much hypes.