How to start trading alt coins? Beginner Tips!

[Taskford]

Trading altcoins is an easy task because you just need to create an account in a trading site then you can deposit your bitcoin and you can start trading and it is easy to make money in trading altcoin because all of them are going up and down and up and that is why even you are a newbie, you can still make big profits in your first experiences.

[1714278018]

1714278018

[PPleaseman]

i would also like to say again how important it is to take profits. I investet in some good ones very early (NEO; ARK;PAY, usw.) but  got to greedy and didnt take some nice profit and then reinvested later.
We live and learn

Cheers

[VTS]

thank you for his suggestions may be useful for personal layman like me

You are welcome! I hope the tips help you to make a few extra bugs! Happy trading!

[syntac]

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!

Tips that are very useful for beginners like me. Thank you for providing complete and clear tips, this is very helpful to me in learning altcoin trading. I have to learn more for altcoin trading. How to know
What are the features of ICO scams?

[jasindu36]

Trading is a game of patience  those who does not have patience in trading they will end up in loss this is the most important tip I am telling you. Always check the real market price from coinmarketcap .com. Always trade with genuine exchanges. Do not trade when you see coin price is rising aggressively do not touch that coin because that can be a fake movement & always trade top 20 coins that would be less risky for you and be active on bitcointalkforum.

[VTS]

Tips that are very useful for beginners like me. Thank you for providing complete and clear tips, this is very helpful to me in learning altcoin trading. I have to learn more for altcoin trading. How to know
What are the features of ICO scams?

Well spotting possible scam is hard. There are many icos that are scam, yet most of the time the "real" scam gets reviled after the ico is over ...

I would personally watch out for projects that are anonymous or projects that are made by "one" individual. Also having a basic understanding of technologies is required to spot scam. There are many alt coins that do not have any value at all Example (not real): Hairdresser Coin or things like that... I think you need to have common sense to see if something even requires a own currency or not...

If a "real" registered company stands behind the project I personally feel more save, because at least they reviled their identity, yet its not a guarantee.

[VTS]

Trading is a game of patience  those who does not have patience in trading they will end up in loss this is the most important tip I am telling you. Always check the real market price from coinmarketcap .com. Always trade with genuine exchanges. Do not trade when you see coin price is rising aggressively do not touch that coin because that can be a fake movement & always trade top 20 coins that would be less risky for you and be active on bitcointalkforum.

Agree! If you are not patience trading is nothing for you! Not being patience usually leads to big loss!

[VTS]

i would also like to say again how important it is to take profits. I investet in some good ones very early (NEO; ARK;PAY, usw.) but  got to greedy and didnt take some nice profit and then reinvested later.
We live and learn

Cheers

This is actually a thing most of us forget or ignore, but taking out profit is mandatory. I know myself if a coin is running good I tend to keep the profit and re-invest instead to take it out in the past. Now I follow my hard rule and take out profit no mater the opportunity that might wait to re-invest.

[cafucafucafu]

IMO, the rest doesn't matter. The most important thing is not chart analysis or even trying to anticipate a pump in the coin. Invest in what you believe in. Also, invest in an active dev team that has great ideas and is constantly updating their code.

Buy into an altcoin only if you're ready to hold it for 6+ months. Don't buy if you're only in it for the short term as you'll probably lose out on a lot of profits if the price does go up. Patience is key with the altcoin markets.

[VTS]

IMO, the rest doesn't matter. The most important thing is not chart analysis or even trying to anticipate a pump in the coin. Invest in what you believe in. Also, invest in an active dev team that has great ideas and is constantly updating their code.

Buy into an altcoin only if you're ready to hold it for 6+ months. Don't buy if you're only in it for the short term as you'll probably lose out on a lot of profits if the price does go up. Patience is key with the altcoin markets.

Invest in project you believe they will be successful and hold. That is one of the key elements! Good said! Thank you.

[investerS]

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!

Number 10: you cannot recommend bittrex anymore, which website can you recommend now?

[VTS]

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!

Number 10: you cannot recommend bittrex anymore, which website can you recommend now?

Well the problem with Bittrex is that you need to identify yourself in order to make bigger withdraws than 0.25 BTC (what is a quite small amount). I personally do not want to identify myself with ID (except to executives or governmental organisations). And I do have a problem how Bittrex is not pointing out to this rule when opening an account. OTher Bittrex is a trusted and well organized trading portal.

Im trading on 3 other sites, but at this point I do not want to make any recommendation. Here are some well known trading portals, but you will make your own research about them and decide if you will chose the one or other:

- Poloniex
- Bitsquare
- Shapeshift 
- Yobit

[Ging]

thanks for the effort but i have a question when i can guess altcoins will drop? the is there a way you can recommend?

[Ging]

i want to make for my self a portfolio what altcoins do you recommend? i on myself would like to start with dash neo zcash thanks in advance

[VTS]

thanks for the effort but i have a question when i can guess altcoins will drop? the is there a way you can recommend?

You can only guess a drop if some project problems coming up and road-map time line is overdue... read the developer and ANN forums, blogs to get clues.... Yet there are whales pumping and dumping where you will never know when its happening...

[PhucS]

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!

First of all thank you for the advice I fully agree with you, the advice you give seems to be very full, it is good for beginners trade, it is even useful to those who have long trade. Regularly reading news about the cryptocurrency market on sites such as coindesk, cryptocoinsnews is a must for traders, and that information along with the knowledge of the forum will be of great help to everyone during trade. And one more thing I am quite interested in is that we pahri keep the cold head. Do not panic in any situation, things need to calm down to be resolved

[VTS]

You are welcome!

"Do not panic in any situation, things need to calm down to be resolved"

^ True words! Panic is never a good problem solver and there will be problems by trading, many of them!

[VTS]

i want to make for my self a portfolio what altcoins do you recommend? i on myself would like to start with dash neo zcash thanks in advance

I would rather not recommend! I believe choosing a coin is something everybody should do by himself...research, research, believe, believe...

[tajernabil]

to remove the  panic = buy the dip and u will never panic
to remove the fear = invest what u can affort to loose
to echap to the greed = my strategy is to devise my trading for 1 coin to 2 part , for exemple i bought BAT with 0.02 bitcoin when the price rise i sell 0.01 and i keep 0.01 for long term because i think is a good project ; if price goes down i will re buy with the 0.01 more BAT if the price go higher i have always 0.01
when u invest in a coin make amount to a long term and amount to short term trading
sorry for my bad english and good luck

[VTS]

to remove the  panic = buy the dip and u will never panic
to remove the fear = invest what u can affort to loose
to echap to the greed = my strategy is to devise my trading for 1 coin to 2 part , for exemple i bought BAT with 0.02 bitcoin when the price rise i sell 0.01 and i keep 0.01 for long term because i think is a good project ; if price goes down i will re buy with the 0.01 more BAT if the price go higher i have always 0.01
when u invest in a coin make amount to a long term and amount to short term trading
sorry for my bad english and good luck

^^^^ nice ones! Thx