VTS (OP)
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Merit: 10
Licensing & Monetizing Digital Content!
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September 06, 2017, 12:26:41 PM |
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Some beginner tips:
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
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.
Good luck!
Would appreciate to add more tips to the list to give some valued info to beginners!
Great job, bro, for making this very useful tips list for beginners. Newbies will find this a guiding list for them to start their journey in cryptocurrencies. If I may add though, I would say: never be emotional in your trading. Be objective. Another one, do not be afraid nor disappointed when your coin is going down, it will bounce back definitely. Thx for the participation! I added one of your tips! |
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taliwang
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September 06, 2017, 01:04:39 PM |
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good trading tip. this can be a lesson in trading. because during my trading I never studied altcoin first ....
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VTS (OP)
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Activity: 112
Merit: 10
Licensing & Monetizing Digital Content!
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September 06, 2017, 01:13:08 PM |
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good trading tip. this can be a lesson in trading. because during my trading I never studied altcoin first ....
Glad you like it! |
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Delicat
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September 06, 2017, 01:31:03 PM |
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good tips, thanks for sharing. the most important part i think is to read a lot of info and eventually you will get a grasp of the system which lead to better decision.
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wantangcfftc020
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Machine Learning & AI - Trustless Ledger System
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September 06, 2017, 01:39:55 PM |
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Very good advice, I have been here about 1 year, but I have to admit these tips are very useful for me and some of them are one of my lessons.
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perla
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September 06, 2017, 01:40:48 PM |
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still can't solve number 11 and 18. i always panic every coins that i bought dumped. and then cutloss, every after cutloss that coin rise again. happened all the time, maybe anyone know how to solve that problem ? maybe i should therapy ?
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VTS (OP)
Member
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Activity: 112
Merit: 10
Licensing & Monetizing Digital Content!
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September 06, 2017, 01:50:37 PM |
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still can't solve number 11 and 18. i always panic every coins that i bought dumped. and then cutloss, every after cutloss that coin rise again. happened all the time, maybe anyone know how to solve that problem ? maybe i should therapy ?
For point 11 I handle it like... CRAP... telling myself to calm down accept the loss... BUT I usually hold ( as a loss in mind) it if I cannot find evidence for the dumb. In 5/10 situations the coins rise after... but its a sort of gambling, yes just I cleared my mind and accept the loss upfront... ^^^ If you only hold 2 or 3 coins it can be tricky, tho... 30% of your investment in that coin and its dumping... ofc every 1 will get wet feeds... just a question of time... I usually accept the loss upfront and give it a time to recover in my head :-) I had one example with RDD lately... It dumped a lot and I had some good amount of money in it... I said ok this is lost...1 week...2 weeks... 3 weeks.... I was daily on their almost dead forum :-), but things started to move so I could sell it with a profit... but it was close to bigger loss if I would have dumped it... ^^^^ Hope that helps, somehow :-)))) |
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Maveth13
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September 06, 2017, 02:16:33 PM |
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This is a very useful thread. A lot of new traders always expect fast and easy income without the risk of this. They just hold on to the basic rule of 'buy low-sell high'. They seem to forget that trading needs a lot of analysis with the coins you are investing in.
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bamboylee
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September 06, 2017, 02:18:06 PM |
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Nice list of tips especially for beginners. I also advice that when you already developed a good trading strategy, you stick into it and keep your discipline. Some traders lose their discipline when they are already having lots of profits. Remember that discipline and self control brings you profit in this business.
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VTS (OP)
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Licensing & Monetizing Digital Content!
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September 06, 2017, 02:23:11 PM |
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Nice list of tips especially for beginners. I also advice that when you already developed a good trading strategy, you stick into it and keep your discipline. Some traders lose their discipline when they are already having lots of profits. Remember that discipline and self control brings you profit in this business.
^^^^ Strongly agree! Thank you! I added your tip to the list! |
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Helga.Alekseyuk
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Merit: 10
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September 06, 2017, 02:48:03 PM |
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Always keep some BTC to react when needed (buy)
Definitely to hedge funds is the must.
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syarifudin
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September 06, 2017, 03:56:55 PM |
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Nice list of tips especially for beginners. I also advice that when you already developed a good trading strategy, you stick into it and keep your discipline. Some traders lose their discipline when they are already having lots of profits. Remember that discipline and self control brings you profit in this business.
with good discipline and self-control will certainly bring a good effect on trading transactions that will be done so as to provide an analysis of good price movements. |
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VTS (OP)
Member
Offline
Activity: 112
Merit: 10
Licensing & Monetizing Digital Content!
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September 07, 2017, 05:54:10 AM |
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Nice list of tips especially for beginners. I also advice that when you already developed a good trading strategy, you stick into it and keep your discipline. Some traders lose their discipline when they are already having lots of profits. Remember that discipline and self control brings you profit in this business.
with good discipline and self-control will certainly bring a good effect on trading transactions that will be done so as to provide an analysis of good price movements. Price analyses are major to do, I agree. |
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Oo ako to
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September 07, 2017, 08:11:24 AM |
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Some beginner tips:
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
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.
Add:
18. Never be emotional in your trading. Be objective! (thx to @Investor for the tip)
19 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!
Good job on posting these tips sir. This is very effective if you just hold a few altcoins but if I am holding more than 20 coin then this might be too much time consuming. |
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VTS (OP)
Member
Offline
Activity: 112
Merit: 10
Licensing & Monetizing Digital Content!
|
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September 07, 2017, 08:22:48 AM |
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Some beginner tips:
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
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.
Add:
18. Never be emotional in your trading. Be objective! (thx to @Investor for the tip)
19 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!
Good job on posting these tips sir. This is very effective if you just hold a few altcoins but if I am holding more than 20 coin then this might be too much time consuming. Thank you! Well this is for beginners! |
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kanayaTabitha
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September 07, 2017, 08:42:08 AM |
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very useful tips. thank you for posting you share.
but for me this is still less because it is important for beginners to teach how to read candle charts. I also still do not understand how to read the right.
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VTS (OP)
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September 07, 2017, 08:56:44 AM |
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very useful tips. thank you for posting you share.
but for me this is still less because it is important for beginners to teach how to read candle charts. I also still do not understand how to read the right.
Thank you! I hope I got your question right, but reading the charts is looking in historical ups and downs per day, weeks or month. It will show you trend lines and moving averages. Charts can give you a hint about stability, dump and pump cycles and the overall growth of the coin in the selected period. (what is not a full historical overview rather a time framed window). Example: A coin starts today with 0.00023454 and will hit 0.00023898 at the end of the day. If you select the daily chart, it will show you how the value razed or felt per hours of the chosen day. |
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alfstep
Full Member
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Merit: 128
Here I come! Again!
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September 07, 2017, 09:36:27 AM |
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Now I try to manage my emotion while trading, try my best not to do panic sell nor panic buy For a very beginner like me, it's better to gain profit even the smallest than losing money  |
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VTS (OP)
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Activity: 112
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September 07, 2017, 09:48:55 AM |
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Now I try to manage my emotion while trading, try my best not to do panic sell nor panic buy For a very beginner like me, it's better to gain profit even the smallest than losing money Sure! Start slow, rise and make steady profit  Good Luck! |
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onyebuchi81
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September 07, 2017, 10:04:42 AM |
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I think the cardinal rule for a newbie is controlling ur emotion when the market is going ur way and against it.speaking as a newbie myself I know when to enter a trade but when to exit is a major problem for me.and greed also plays a major rule.i usually set my TP at 10% but when it gets to 8-9% I usually extend it.sometimes I get lucky and make but most time I lose almost everything. And I usually don't know when to cut my loses because immediately I cut my loses the coin starts rises.though I have learnt to take my loses with a bold approach as I consider it all a learning experience
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