How to start trading alt coins? Beginner Tips!

[VTS]

There are very usefull and correct points!
It is quite important to don't rush and think about every step and decisions.
Does not matter to being beginner or experienced, everyone is able to lose sometimes but this mistakes help to take more correct steps.

Thank you! Glad you appreciate the trading tips for beginners!

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[FrankNoland]

That's a very informative statement surely some of us investors can actually learn a lot from it, and maybe in the near future, trade wisely.

However, I still think that bittrex is the best exchange for beginners in the sense that it is user friendly and you can easily buy or sell coins. One more important point that I feel like you forgot to mention, buy low and sell high, this might help you if you are willing to make quick profit.

[StarofBTC]

I would like to add some tips on how to spot and avoid "shit-coins" and scam for trading beginners!

This would be great. Beginners mostly make mistakes on "shit-coins". Inexperience knows to leave a deep scar in life and sometimes serious financial consequences.

The funniest thing is that some coin may not even look shitty at all after looking at the charts, only to get in and realize how shitty they can be. The truth remains that the altcoin market is unpredictable and sometimes we might just not get lucky even after the analysis. It is left for us to just quickly know when to get out if need to be.

One out of court tips would be, just sticking with only well established coins or only with bitcoin will safe guard any investor/trader.

[Bitmedrano040117]

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!

Those of what you just said was true and correct, this might be helpful to anyone here in the forum. But anyway, For not recommending bittrex anymore in your side, I think that's normal for the exchanger to that, because its like poloniex I don't know in the other platform of market.

[aquapanic]

The concept of "covering" a trade is important. If for example you are in on a coin during the pump and have huge profits on a lot of tokens, if you still like the coin *nothing* is saying not to stay in the trade BUT, if you sell coins to equal the initial cost of those tokens, you are now riding that coin for free, even if it goes to zero you will have no losses. If you think you see a solid entry point later on - feel free to enter the trade. Every trade occurs in a vaccuum, do not chase losses or FOMO into pumps on trades you are already in UNLESS the follow-on action was already a part of your strategy.

[VTS]

The concept of "covering" a trade is important. If for example you are in on a coin during the pump and have huge profits on a lot of tokens, if you still like the coin *nothing* is saying not to stay in the trade BUT, if you sell coins to equal the initial cost of those tokens, you are now riding that coin for free, even if it goes to zero you will have no losses. If you think you see a solid entry point later on - feel free to enter the trade. Every trade occurs in a vaccuum, do not chase losses or FOMO into pumps on trades you are already the follow-on action was already a part of your strategy.

Thank you for your sharing this with us!

[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!

Those of what you just said was true and correct, this might be helpful to anyone here in the forum. But anyway, For not recommending bittrex anymore in your side, I think that's normal for the exchanger to that, because its like poloniex I don't know in the other platform of market.

Thank you for your input and regarding Bittrex It understand the need of verification but they just do not communicate it proper... You open new account you did not read there support section and you will be negatively supersized once you want to withdrawal.

[VTS]

I would like to add some tips on how to spot and avoid "shit-coins" and scam for trading beginners!

This would be great. Beginners mostly make mistakes on "shit-coins". Inexperience knows to leave a deep scar in life and sometimes serious financial consequences.

The funniest thing is that some coin may not even look shitty at all after looking at the charts, only to get in and realize how shitty they can be. The truth remains that the altcoin market is unpredictable and sometimes we might just not get lucky even after the analysis. It is left for us to just quickly know when to get out if need to be.

One out of court tips would be, just sticking with only well established coins or only with bitcoin will safe guard any investor/trader.

Agree! Thank you for sharing this info with us!

[b-synthestech]

rather useful information.
need to think about it.
some tips are really helpful

[i-synthestech]

I want to add some unusual tips, as to rely upon your intuition in some cases, because it really works sometimes

[VTS]

rather useful information.
need to think about it.
some tips are really helpful

Thank you m8! Patience an knowledge is the key!

[swoolzze]

Thanks for sharing the information. I appreciate your effort so much. Nice details I learned a lot. I think of something for additional tips like enjoy learning something new and always be aware for something or someone.

[appleffi]

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!

I am a beginner myself, so the above tips listed is very helpful to us beginners especially because this one will serves as a guide when trading. This information helps us to avoid unnecessary situations such as scam which we don't want to experience. So thanks for sharing this information. 

[CarlJohnson89]

If not Bittrex, which exchange would you currently recommend?

[fedor3327]

Not sure if its been brought up here already.

Just one tip from me.

Do not do this with money you cannot afford to loose. Remember that and you will be just fine.

[Joriecoinbit]

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!

Thank you!, finally I found out the answers that I've ever search since I started here in bitcoin forum and that to know how to do trading.Because I realized if always depending on my friends I cannot experience how to trade and how does it feel if you're in trading situation.Once again ,thank you very much.

[VTS]

Thanks for sharing the information. I appreciate your effort so much. Nice details I learned a lot. I think of something for additional tips like enjoy learning something new and always be aware for something or someone.

You are very welcome! Glad that you find it useful!

[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!

Thank you!, finally I found out the answers that I've ever search since I started here in bitcoin forum and that to know how to do trading.Because I realized if always depending on my friends I cannot experience how to trade and how does it feel if you're in trading situation.Once again ,thank you very much.

Glad you got some inspiration! You cannot fully relay on friends ( not telling that your friends are bad, tho). It is jut they also don´t know what will happen... you should make always your own research and then after you gained knowledge you may discuss it with your friends!

[dewanaga]

There are very usefull and correct points!
It is quite important to don't rush and think about every step and decisions.
Does not matter to being beginner or experienced, everyone is able to lose sometimes but this mistakes help to take more correct steps.

to start trading should really learn first,
otherwise you can fail profit

[ALT67890]

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!

Thanks @VTS for this tips and advices for what are do’s and don’ts. As a newly altcoin users and member of this community but always on bitcoin section, I would like to give more time to study and learned about this thing. This would be a great reference for me to not ignorance but will informed and knowledgeable not much but enough.