Bitcoin tips: Bitcoin Trading Starter Pack

[reck1ess]

BITCOIN TRADING STARTER PACK

KNOWLEDGE - Before getting involve to bitcoin and other cryptocurrencies, first thing is we should have enough knowledge and idea of what we are dealing with in order to avoid losing profit and investments. In order to start trading, we should have at least an idea of how it works and how to profit on it. So start by exploring a bit more about bitcoin and the world of cryptocurrencies.

PERSONAL DEVICES - in order to keep track of our bitcoin and our other cryptocurrencies, we should have a personal device. For using other persons devices (like in our country, we sometimes use internet cafe to get access of our wallets) may cause a problem if you are irresponsible and may lose your money.

BITCOIN WALLET - Bitcoin Wallet is a software where we can store our bitcoins and we should have a secured wallet to store our bitcoins and other cryptocurrencies. (Hardware wallet is somehow the most recommended for large amount of bitcoin base on my previous topic where many bitcointalk users suggested it)

CASH - Before you can start trading, you need a money to convert it to bitcoin through some exchange and then transfer it to your wallets.

CHART/GRAPH - And lastly, you should have a known place(site) where you can track the price of bitcoin. For bitcoin is volatile where its value changes every second.

General warning: the financial transactions offered at all trading sites are highly risky and may result in the loss of all your capital. You should not invest an amount of money that you are not prepared to lose."



I made this topic to help those people who wants to do trading yet have no idea on where to start with.
Hope this topic will help you. Any suggestions and contributions to this topic is highly appreciated in order to help the beginners to have a better trading.



-------------------------------------------------------------------------------------------------------------
Here are some of my threads that might be also helpful to you
Bitcoin Tips
Bitcoin Starter pack:       https://bitcointalk.org/index.php?topic=2861680
The 10 Commandments: https://bitcointalk.org/index.php?topic=2856970.0
Bullish & Bearish Flag:   https://bitcointalk.org/index.php?topic=2843383
Factors that affect bitcoin price: https://bitcointalk.org/index.php?topic=2867326
Avoiding Scams: https://bitcointalk.org/index.php?topic=2874379

[ritsel02]

This post is worth reading and the idea is relevant especially to those who are just new on trading.The information is useful which could serve as a guide before engaging on trading. Great job,thanks for sharing.

[casdder]

I think such a post is helpful to many novices, and we did it through a long trial. Guide new people to do what, what to prepare, enough detailed information allows them to better start.

[olya_n]

This is a great topic for beginners! I think that a beginner crypto-investor will draw a lot of useful knowledge from here. )))

[PatyZante]

I think this post will be a great help for those who want to start trading. Complete, easy to understand and worth your time. Good Job and thank you for this post.

[lnihjlbg]

Thanks for sharing, it saved me a lot of time. I was bitcointalk for a while, and I wanted to know more about Bitcoin transactions and get me added to Bitcoin as soon as possible.

[Probablylikely]

Very kind of you indeed. I am sure the beginners will be grateful for this helpful posting of yours. Perhaps you wanna add in this common yet prioritised warning as well in your finale. "General warning: the financial transactions offered at all trading sites are highly risky and may result in the loss of all your capital. You should not invest an amount of money that you are not prepared to lose."
Good luck!

[reck1ess]

Very kind of you indeed. I am sure the beginners will be grateful for this helpful posting of yours. Perhaps you wanna add in this common yet prioritised warning as well in your finale. "General warning: the financial transactions offered at all trading sites are highly risky and may result in the loss of all your capital. You should not invest an amount of money that you are not prepared to lose."

Thanks for your suggestion, I will add it. 
Also Thanks for the appreciation everyone, i will continue to create topic like this in order to be helpful in this community.

[Meysa_richa]

Topics that you post very good and helpful for beginning people, for our trade also need extensive knowledge and know the condition of the market that the time is down or also up, so we do not experience the price and always get the benefits, we need to often often read news about state of crypto

[paolo099]

Good starting point but this is really for the very beginners in crypto world and you forgot the golden rule, especially if you are a newbie in this world:

Remember to invest ONLY what you can afford to lose

this must be your daily mantra while jumping on the crypto world.
Another advice i would like to give is to set yourself a short, medium and long term goal and follow it, don't just blindly buy low and sell high.. for example as a medium/short goal it could be: i invest xx fiat and when i have gained 10/20% of it, i will cash out and keep the initial investment and so on.
Do not be a weak hand at the first dip, use your brain and not your emotions while trading because this is a roller coaster, fasten your seatbelt and enjoy the ride with BTC airlines!

[Perseusallen]

Successful traders have to move fast – but they don't have to think fast. Why? Because they've developed a trading strategy in advance, along with the discipline to hold to that strategy. In fact, it is far more important to follow your formula closely than to try to chase profits. There's a mantra among day-traders: "Plan your trades, then trade your plan."

[reck1ess]

Good starting point but this is really for the very beginners in crypto world and you forgot the golden rule, especially if you are a newbie in this world:

Remember to invest ONLY what you can afford to lose

this must be your daily mantra while jumping on the crypto world.
Another advice i would like to give is to set yourself a short, medium and long term goal and follow it, don't just blindly buy low and sell high.. for example as a medium/short goal it could be: i invest xx fiat and when i have gained 10/20% of it, i will cash out and keep the initial investment and so on.
Do not be a weak hand at the first dip, use your brain and not your emotions while trading because this is a roller coaster, fasten your seatbelt and enjoy the ride with BTC airlines!

Oh someone already told me to put that golden rule xD i just forgot to edit my post. Thanks for tge reminders. I will soon add this other advice in my posts. Thanks for the contribution.

Successful traders have to move fast – but they don't have to think fast. Why? Because they've developed a trading strategy in advance, along with the discipline to hold to that strategy. In fact, it is far more important to follow your formula closely than to try to chase profits. There's a mantra among day-traders: "Plan your trades, then trade your plan."

Agree, if you have already develop a successful formula in earning in the cryptoworld then all you need to do is to be quick.

[yanesna3]

I do really love this post! I also appreciate that you have mentioned knowledge as the first thing you should have. No one will become a good trader without knowledge and the passion to learn more each day.
I gave you 1 Merit!

[shikon_shard]

I have checked all the link in your post and all of them are nice and helpful. Hope that you will make more topic like this in the forum. Good luck!!

[reck1ess]

I do really love this post! I also appreciate that you have mentioned knowledge as the first thing you should have. No one will become a good trader without knowledge and the passion to learn more each day.
I gave you 1 Merit!

Thanks for the appreciation and for the merit this will encourage me more to create helpful threads. You can also check the other links that i have added to this thread. 

I have checked all the link in your post and all of them are nice and helpful. Hope that you will make more topic like this in the forum. Good luck!!

Thanks for checking all of the links. hope that it helps you through your journey to crypto world.

[Winner]

BITCOIN TRADING STARTER PACK

KNOWLEDGE - Before getting involve to bitcoin and other cryptocurrencies, first thing is we should have enough knowledge and idea of what we are dealing with in order to avoid losing profit and investments. In order to start trading, we should have at least an idea of how it works and how to profit on it. So start by exploring a bit more about bitcoin and the world of cryptocurrencies.

PERSONAL DEVICES - in order to keep track of our bitcoin and our other cryptocurrencies, we should have a personal device. For using other persons devices (like in our country, we sometimes use internet cafe to get access of our wallets) may cause a problem if you are irresponsible and may lose your money.

BITCOIN WALLET - Bitcoin Wallet is a software where we can store our bitcoins and we should have a secured wallet to store our bitcoins and other cryptocurrencies. (Hardware wallet is somehow the most recommended for large amount of bitcoin base on my previous topic where many bitcointalk users suggested it)

CASH - Before you can start trading, you need a money to convert it to bitcoin through some exchange and then transfer it to your wallets.

CHART/GRAPH - And lastly, you should have a known place(site) where you can track the price of bitcoin. For bitcoin is volatile where its value changes every second.

General warning: the financial transactions offered at all trading sites are highly risky and may result in the loss of all your capital. You should not invest an amount of money that you are not prepared to lose."



I made this topic to help those people who wants to do trading yet have no idea on where to start with.
Hope this topic will help you. Any suggestions and contributions to this topic is highly appreciated in order to help the beginners to have a better trading.



-------------------------------------------------------------------------------------------------------------
Here are some of my threads that might be also helpful to you
Bitcoin Tips
Bitcoin Starter pack:       https://bitcointalk.org/index.php?topic=2861680
The 10 Commandments: https://bitcointalk.org/index.php?topic=2856970.0
Bullish & Bearish Flag:   https://bitcointalk.org/index.php?topic=2843383
Factors that affect bitcoin price: https://bitcointalk.org/index.php?topic=2867326

Informative post, thanks.
It was worth the read indeed. There is also a Bitcoin Wiki if you want to add any information that isn't already on there.

https://en.bitcoin.it/wiki/Main_Page

Code:

https://en.bitcoin.it/wiki/Main_Page