How to start trading alt coins? Beginner Tips!

[VTS]

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

Experience is the key in trading! And everybody needs to start at some point to get this experience, loss is part of learning process...

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[VTS]

ADD: And pull out some % in USD from your profit from time to time.

[Kyrielebron24]

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)
20. Pull out some % in USD from your profit from time to time.


Good luck!

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

Thank you so much for sharing your knowledge or tips about trading and i think this thread is very useful especially in beginners and if you want to learn in trading study hard and ask or talk in people's who are expert in trading or have a experience always remember if the price is low you need to buy then hold it for a short term mid term or if you want hold it for a long term.

[VTS]

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)
20. Pull out some % in USD from your profit from time to time.


Good luck!

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

Thank you so much for sharing your knowledge or tips about trading and i think this thread is very useful especially in beginners and if you want to learn in trading study hard and ask or talk in people's who are expert in trading or have a experience always remember if the price is low you need to buy then hold it for a short term mid term or if you want hold it for a long term.

Glad you see it as useful! Yes best is to think in different verticals regarding investment time. Short, mid and long term investments...

[VTS]

Adding:

Control your emotions when the prices is going up or down.

[Herdirfauzi]

according to your tips and explanations, I answered it is the right thing and I agree with the tips you give .. thank you for sharing knowledge about trading bro

[Herdirfauzi]

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.

that's right, thank you very much for giving knowledge about trading, I am very happy with people who share knowledge, not only you. and thank you also care about fellow members in this bitcointalk forum. 

[Sync485]

i suggest you to learn indicators. start with simple ones like Relative Strenght Index and Moving Average. with RSI you can see overbuy and oversell situations.  i'm using rsi for daily trades. and it helps a lot.

[Herdirfauzi]

i suggest you to learn indicators. start with simple ones like Relative Strenght Index and Moving Average. with RSI you can see overbuy and oversell situations.  i'm using rsi for daily trades. and it helps a lot.

sorry in advance, i have never heard of RSI, stands for what is RSI? because my science is still a little. can you provide a link to download RSI or an article that explains in detail about RSI?

[Sync485]

i suggest you to learn indicators. start with simple ones like Relative Strenght Index and Moving Average. with RSI you can see overbuy and oversell situations.  i'm using rsi for daily trades. and it helps a lot.

sorry in advance, i have never heard of RSI, stands for what is RSI? because my science is still a little. can you provide a link to download RSI or an article that explains in detail about RSI?

rsi is rate of buy/sell.  if it is over 70 it means overbuy and its signal for selling.  and if it is under 30 it means oversell. signal for buying.

you should check this site: https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/RSI

[chesatochi]

Great advice for anyone that is starting to build a crypto portfolio. We need to rely on many sources to get a better judgement and make a wiser decision.

[Herdirfauzi]

i suggest you to learn indicators. start with simple ones like Relative Strenght Index and Moving Average. with RSI you can see overbuy and oversell situations.  i'm using rsi for daily trades. and it helps a lot.

sorry in advance, i have never heard of RSI, stands for what is RSI? because my science is still a little. can you provide a link to download RSI or an article that explains in detail about RSI?

rsi is rate of buy/sell.  if it is over 70 it means overbuy and its signal for selling.  and if it is under 30 it means oversell. signal for buying.

you should check this site: https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/RSI

thanks for the answers you provide, very helpful for me who is still a beginner in the world of trading, and I will try to deepen from what you give me about RSI and its link, once again, thanks a lot

[VTS]

according to your tips and explanations, I answered it is the right thing and I agree with the tips you give .. thank you for sharing knowledge about trading bro

Thank you! You are welcome! I hope others will add some more tips...

[VTS]

i suggest you to learn indicators. start with simple ones like Relative Strenght Index and Moving Average. with RSI you can see overbuy and oversell situations.  i'm using rsi for daily trades. and it helps a lot.

sorry in advance, i have never heard of RSI, stands for what is RSI? because my science is still a little. can you provide a link to download RSI or an article that explains in detail about RSI?

rsi is rate of buy/sell.  if it is over 70 it means overbuy and its signal for selling.  and if it is under 30 it means oversell. signal for buying.

you should check this site: https://www.fidelity.com/learning-center/trading-investing/technical-analysis/technical-indicator-guide/RSI

Thank you for the link about RSI!

[yunuzov]

Nice suggestions there good job! What i want to add is to find someone who can help you in your adaptation procces. It would be better if you are luck enough to have a friend who is trading for a while. After you get used to this market you should start making analyses you own . Go and read, study for hours if you have to because investing on a high potential coin or ICO can be curicial. So don't be lazy and start to study ASAP.

[VTS]

Nice suggestions there good job! What i want to add is to find someone who can help you in your adaptation procces. It would be better if you are luck enough to have a friend who is trading for a while. After you get used to this market you should start making analyses you own . Go and read, study for hours if you have to because investing on a high potential coin or ICO can be curicial. So don't be lazy and start to study ASAP.

Thank you!
Spending some time analyzing an ico or coin is crucial before investing I totally agree. Do not buy without enough background knowledge about it.

[Faiyz]

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)
20. Pull out some % in USD from your profit from time to time.
21. Control your emotions when the prices is going up or down.


Good luck!

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

Thank you for this , This is indeed will be a big help to us and some of the bitcoiners who want to know more and want to start in the trading industries . I really appreciate it.

[VTS]

Thank you for this , This is indeed will be a big help to us and some of the bitcoiners who want to know more and want to start in the trading industries . I really appreciate it.

Thank you! Glad you find it useful!

[VTS]

Great advice for anyone that is starting to build a crypto portfolio. We need to rely on many sources to get a better judgement and make a wiser decision.

better judgment and wisdom usually comes from knowledge and experience. You need to educate yourself and make your own experience.

[VTS]

I agree with your points
Great advice for anyone that is starting to build a crypto portfolio.

Thank you! I hope the advice will help as you said.