Trading Tips for Beginners

[saleenasmith]

Hello Friends...

I am a Newbiew In Bitcointalk forum. There are so many people lost their money due to lack of trading Knowledge. So with this Thread my question is! How to trading with local markets or with international markets.

Please provide Do's and Don'ts during the trading.

[1715487901]

1715487901

[mk4]

When you say local markets, I'll assume you meant via something like localbitcoins.com whereas you meet up with the buyer/seller. With international markets, browse through the forums. There has been multiple topics asking for trading advice.

• Always meetup at a well populated and well lit area, preferably with security guards/cops around
• Bring a decently sized friend, in case of a confrontation
• If you're the buyer, make sure that the seller chooses a decent transaction fee
• Confirm through https://blockchain.info or whatever block explorer that the transaction is legitimate

[Crypto Capital]

Hello Friends...

I am a Newbiew In Bitcointalk forum. There are so many people lost their money due to lack of trading Knowledge. So with this Thread my question is! How to trading with local markets or with international markets.

Please provide Do's and Don'ts during the trading.

I have only been trading on LBC and paxful for about a month now but I can tell you a couple things that I have learned.

Do

• Write a good advertisement with strong security features right from the start, this will automatically deter scammers and buyers that are not serious
• Read the forums of the platform you are planning to use first, this will save you a lot of heart ache from scams

Don't

• Ever accept visa! Extremely reversible.
• Accept paypal without setting up a proper stealth account.

[YellowRiver]

Hello Friends...

I am a Newbiew In Bitcointalk forum. There are so many people lost their money due to lack of trading Knowledge. So with this Thread my question is! How to trading with local markets or with international markets.

Please provide Do's and Don'ts during the trading.

Trading is no doubt an art and not everyone is an artist. This is a very bare truth. Trading is very much profitable but on the other hand it is very much risky to trade. First of all, you need to learn well about the basic things related to that of trading. Secondly, you need to learn as much as you can from the ones who are good at trading. Do not do panic selling no matter what the conditions are, remain cool.

[mamesso]

You have to register some big exchangers, such as bittrex, poloniex, hitBTC, Binance and many more.
you should use small capital, to avoid big losses. Always learn from various media or community, so your trade expertise is increasing.

[DaMut]

What should you do in Local Market :
1.Provide complete data and verify your account completely,
What you should not do in International Market :
1.Provide complete data,

International Market is very different if we compare it with Local Market,
because a lot of people lost their money in there due to their country origin.
for example i heard a lot of people from iranian get blocked in international market due to 'special reason'.
that is why i recommend you if you want to do the trade in there always use a basic verification.
and it would be better for you to use VPN when doing the trade in there.

for starting,you should not trade altcoin because it's very volatile compare to Bitcoin.
try to feel it by Holding it and keep read,
there'll be a lot of shiller and fudder in internet and try to build your mental.
90% people lost their money due to emotion,
you need to calm and cool headed to prevent loses and to gain profits.

[Sewarlock]

Do: Hold at whatever you're buying
Don't: Trade

Explanation: Everyone is losing money by trading because no one can predict the outcome of the market (short term outcome). But we can all be fairly sure that the cryptomarket will evolve within the next years and it's value will multiply by a lot. Considering that, it makes no sense to trade "catching waves" to make short-term profits, if you can simply buy any of these coins and hold, and make just as good of a return as you would by trying to trade. Just consider doing something else, having a job for example will most likely provide you with a better income than trading (even though trading is a job as well, leave it to the experienced one's) if you really do want to get invovled in it, just put a very small amount of your portfolio into trading, maybe 10% and trade with that. Something you can afford to lose

[Crytpozer0]

follow news and always buy low sell high, look at charts what time they usually offer what prices, you can trade any day by doing some good amount of research.

[DevilSlayer]

Hello Friends...

I am a Newbiew In Bitcointalk forum. There are so many people lost their money due to lack of trading Knowledge. So with this Thread my question is! How to trading with local markets or with international markets.

Please provide Do's and Don'ts during the trading.

I think it is better if you will study first all the basic information about trading. Trading is not an easy job because we need many knowledges and techniques for us to gain many money.

[PrinceCaspian]

Learn, learn and learn. That is what you need to become a good trader because if you are just getting started then there is a higher chance that you don't know the basic of trading so if i were you, i will invest some of my time in studying about trading by reading here in our forum and doing research on different search engines and that is how you will become a good trader.

[Lord of the Lies]

heh, from my own experience, the things to do are

1. lose lots of money
2. learn expensive lesson
3. never repeat that

i've lots lots, but made more

[tweetbit]

I think they managed to answer more on the technical aspects by those replies and I will just tackle the emotional and practical aspects as well:

Do’s:
  • open your eyes to read more
  • give time and effort to understand every coins you choose
  • emotions(slight) are good for it can’t really be out of human nature
  • failure is inevitable but learn from it (experience)
  • Patience is and always the key

Don’ts:
  • never go to war without any knowledge as a shield
  • never choose a trade because of other trader said so
  • too much emotion = too much loss
  • at time of failure don’t fall back it is just make you stronger

Hope I made it clear for anyone to see that sometimes failures is good to be a better trader.

[CoinsCoinsEverywhere]

Do: Hold at whatever you're buying
Don't: Trade

Explanation: Everyone is losing money by trading because no one can predict the outcome of the market (short term outcome). But we can all be fairly sure that the cryptomarket will evolve within the next years and it's value will multiply by a lot. Considering that, it makes no sense to trade "catching waves" to make short-term profits, if you can simply buy any of these coins and hold, and make just as good of a return as you would by trying to trade. Just consider doing something else, having a job for example will most likely provide you with a better income than trading (even though trading is a job as well, leave it to the experienced one's) if you really do want to get invovled in it, just put a very small amount of your portfolio into trading, maybe 10% and trade with that. Something you can afford to lose

This is some good advice.  Trading is not easy; many fail at it over the long term (if not the short term).  Bitcoin has kind of become like the crypto equivalent of broad stock market indices in the sense that you will probably make a decent profit by buying and holding longer term.  Trading is only worth it if you can beat the return that bitcoin will give you.

If you really are set on learning to trade, then I advise the following:

1. Do some basic investing (e.g., buy some bitcoin on some pullbacks) so you can try to earn some money while you learn how to trade.
2. Recognize that learning to trade will take a lot of time and hard work, and will take years to learn to do well.  If you don't enjoy staring at charts for hours, stop here.  Trading is not for you.
3. Don't quit your day job (see #2).
4. Start by taking some time to learn the basics of what trading is and how to do it.  Youtube has a lot of good material.
5. After learning how to trade, learn more about technical analysis and spend time developing a trading plan that fits your personality.
6. Backtest and forward test your plan, either on paper or with very small trade sizes.  Optimize your plan.
7. When you think you have a sound trading system, trade small amounts first and increase your trade size slowly as you gain confidence.  Learn to control your emotions.
8. Profit.

[Qunenin]

Hello Friends...

I am a Newbiew In Bitcointalk forum. There are so many people lost their money due to lack of trading Knowledge. So with this Thread my question is! How to trading with local markets or with international markets.

Please provide Do's and Don'ts during the trading.

Start small, one or two trading sets and no more.  Keep records of everything outside of the exchange.  Do not just keep the numbers in your head and in the exchange, keep a separate spreadsheet or sheet of your deposits, trades and withdrawals.  Some good looking trades end up eaten by the fees and other little things and either lose money or break even.  Also, cut yourself a good bit of slack, it is confusing and hard to start with and you will make errors and mistakes.

[DU18]

Trading is risky step to make profit but you should take risk if you want big profit.Normally,one should first learn trading and then start doing it.You can seek help from your elder who do trading.Else you can search on Google or youtube also.I will suggest you to trade with that amount which you can afford to lose.So it will be better for you to start trading with small amount.Best if luck mate.

[CryptoWorld87]

heh, from my own experience, the things to do are

1. lose lots of money
2. learn expensive lesson
3. never repeat that

i've lots lots, but made more

I agree with this principle you can learn more lesson if you already try got lose some of yours this is a good lesson for us and alsi always practice that study hard first before you invest in any kind of investments in your life including tradibg or business offline

[Wipro]

Hello Friends...

I am a Newbiew In Bitcointalk forum. There are so many people lost their money due to lack of trading Knowledge. So with this Thread my question is! How to trading with local markets or with international markets.

Please provide Do's and Don'ts during the trading.

Start small, one or two trading sets and no more.  Keep records of everything outside of the exchange.  Do not just keep the numbers in your head and in the exchange, keep a separate spreadsheet or sheet of your deposits, trades and withdrawals.  Some good looking trades end up eaten by the fees and other little things and either lose money or break even.  Also, cut yourself a good bit of slack, it is confusing and hard to start with and you will make errors and mistakes.

There are bot which can be best to track the chart and pre set the value in the trading account. Monitoring price chart is must move you have to do whether you are a senior in trading or beginner in trading.
One among the fees consuming exchange wallet is localbitcoins.com wallet. Other than that now trader offering less rate than we see in Google or Coindesk. Hence they can make more profit.

[Eternu]

First what you need to have is knowledge how Bitcoin works and what it is. After that you need to be in touch with news about it. When you know what, who and what is going on, you can assess price and know if its good time for buying or for selling. After that it is simple to make profit. Buy Bitcoin and try to sell it for higher price than you paid. As long as you are not on 0 or in negative, you are making profit.

[MuhNofa]

the most important thing in trading is do not panic if you buy coins at this price and the next 1 hour lower price

[Getcoinsite]

When you say local markets, I'll assume you meant via something like localbitcoins.com whereas you meet up with the buyer/seller. With international markets, browse through the forums. There has been multiple topics asking for trading advice.

• Always meetup at a well populated and well lit area, preferably with security guards/cops around
• Bring a decently sized friend, in case of a confrontation
• If you're the buyer, make sure that the seller chooses a decent transaction fee
• Confirm through https://blockchain.info or whatever block explorer that the transaction is legitimate

nice advice,that makes both parties safe upon trading,