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Author Topic: How do I start out trading with $200?  (Read 1228 times)
lesitio
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November 11, 2017, 11:14:30 PM
 #1

I want to start out trading altcoins but don't know where to start.  I don't have much money because I am a student.

Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?

Any help would be appreciated, thank you
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bmichael05
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November 11, 2017, 11:28:31 PM
 #2

It depend on your aims. At first you should ask yourself "What i whant to earn from crypto trading"? If you want to earn in long term it nowday is a good time to invest 20$ in 10 perspective coins. If you understand nothing in trading i think it is the best way. If you want to earn every day a little money you should study a lot and trade a small lots but in will not be easy.

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November 11, 2017, 11:32:49 PM
 #3

I want to start out trading altcoins but don't know where to start.  I don't have much money because I am a student.

Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?

Any help would be appreciated, thank you

I think its not about the money when you are trying to start trading. It is about the skills and knowledge on crypto trading that matters. Even if it is just a $200 starting investment, if you are ready, complete with the necessary skills and understanding of the art of crypto trading, then you will earn. For now, learn trading. ICO is not for you yet. I think you will consider the coins that are having large spikes. Wait for these coins to be on its very low value before buying.

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November 11, 2017, 11:35:50 PM
 #4

I want to start out trading altcoins but don't know where to start.  I don't have much money because I am a student.

Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?

Any help would be appreciated, thank you
You should spend it on coins with potential to grow. You should also consider diversifying that 200$ and do not put it all in one basket. You should try to invest long term rather than thinking of short term gain. You can also do short trades when market is active. It depends on you how you will diversify your investment, you can also invest on ICO's with potential like ditcoin if you want. Just always remember to sell when you have enough gain already, selling too late would mean profit loss.

wpt2207
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November 11, 2017, 11:36:52 PM
 #5

What I personally prefer and also did was following bigger traders and buying cheaper coins that are known for jumping in price.
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November 11, 2017, 11:44:55 PM
 #6

I want to start out trading altcoins but don't know where to start.  I don't have much money because I am a student.

Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?

Any help would be appreciated, thank you

If you're a newbie, keep reading the forum, but don't take your investment idea from the forum. Please note this. People hanging out here will try to make you invest the coins they currently have.

Make decissions on your own after checking some graphs and analysis.


     
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knircky
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November 11, 2017, 11:47:38 PM
 #7

I want to start out trading altcoins but don't know where to start.  I don't have much money because I am a student.

Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?

Any help would be appreciated, thank you

I would not worry about what coin in terms of big or small.

Just use the 200 to built a portfolio u want.

The awesome thing about crypto is that u can trade with 200
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November 11, 2017, 11:49:50 PM
 #8

Since the alt coin market is having a bear run for a while ,there are plenty of promising projects which are good to enter and check out the alt coin section and understand what the best project is which has a good reputation to hit the jackpot in the short run and invest in those for the long term ,sure you will have a good profit in the end.

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November 12, 2017, 12:49:18 AM
 #9

With $200 cash, divide the investment into few ICOs only, like 3 ICOs.
Which ico's is potential, look at some of the discussions in this forum, but still the final decision is yours. Follow some ico's graph in the last 1-3 weeks. Then you will find which ones have increased volume and not. This is important because learning to trade should be able to see the situation from a long time span.

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November 12, 2017, 01:03:05 AM
 #10

I want to start out trading altcoins but don't know where to start.  I don't have much money because I am a student.

Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?

Any help would be appreciated, thank you

Buy $200 worth of Waves. I'd be very surprised if you don't triple your investment by next spring/summer.
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November 12, 2017, 01:04:51 AM
 #11

If you're going to start trading with $200 only, you should build your account on coins that is small but still profit table. Spread your money in different coins and sell them when there is profit but don't sell them all, keep some for future purposes. Treat it as your own investment.

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November 12, 2017, 01:13:18 AM
 #12

it hard to make profit with only 200$ and with no trading skills. I recommend you to play around with 50$ in order to learn daily trading and understanding how the market works.

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November 12, 2017, 01:18:20 AM
 #13

$200 is a good starting amount for trading but it all depends on your aim but if I were you I'd distribute my money on the altcoins that have the potential.

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November 12, 2017, 01:22:44 AM
 #14

If you need to trade first you have to learn about the facts before invest. Now you can invest your 200$ with bitcoins.
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November 12, 2017, 01:26:45 AM
 #15

I want to start out trading altcoins but don't know where to start.  I don't have much money because I am a student.

Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?

Any help would be appreciated, thank you
Educate yourself. You should not let what other people decide where to throw your money but (don't get me wrong) there is nothing wrong asking other people's thought. What I'm trying to say is to do research after that to verify the information given and to know more about it. I can't really suggest what coins you should buy or not but an advice is better, right?

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November 12, 2017, 01:29:21 AM
 #16

Waves would probably be a good idea. You can also go for a small share in Bitcoin or Ethereum.
Remember with coins you don't have to buy at least 1, with the bigger coins you can go for a fraction.

Be careful of high exchange rates and scammy exchange sites.

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November 12, 2017, 01:31:23 AM
 #17

its a little difficult to start with that amount..
you need to split your money into few projects so you have a better chance, spliting it to 50$ each will make the process very slow..
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November 12, 2017, 01:44:47 AM
 #18

I want to start out trading altcoins but don't know where to start.  I don't have much money because I am a student.

Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?

Any help would be appreciated, thank you

Don't diversify your portfolio too much, invest in 2, maybe 3 projects you like.

I know many people will disagree with this, but $200 is not much money and it is not lucrative to invest it into 10 coins. Can you imagine your coin going up 50$ and you earning just $10?  Sad

I suggest you invest everything into 2-3 coins, and then invest more every month (or in periods you are comfortable with).

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November 12, 2017, 02:07:32 AM
 #19

I want to start out trading altcoins but don't know where to start.  I don't have much money because I am a student.

Should I put my money in low cost coins such as NEM or should I put it in higher cost coins such as litecoin?
Should I spend $10 on each coin? $20?
Should I try a few ICOs?

Any help would be appreciated, thank you

Most of the time specially if you are just a starter and you don't know something about trading, don't do it. Why? Because you are in a situation like driving a car in a high way, where your skills are just for driving bikes. The risk of trading for novice traders is high, what more for starters like you right? So if I were you, I'll put my money somewhere safe. Release them on trading if you are confident enough that you have skill and knowledge about it. Also, about choosing ICO's, be wise about them because the level of risk is quite high too. Imagine that for almost 200 ICO'S only 15-20 among them becomes successful. Be smart, be wise, and never stop reading. Your $200 has a long way to go if you are smart enough about spending it.

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November 12, 2017, 02:25:05 AM
 #20

I think you should try to deal with alts first.because bitcoin is so hard to deal now,with its huge price its hard to afford trading with btc.i wish that 200$ of yours can be invest in long term,not for quick money.if thats the case u cant succeed because the orice now is unstable so we need to be patience.

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