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Author Topic: What I Should Know Before i Start Trading Cryptocurrency  (Read 782 times)
jorgelugra
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June 01, 2018, 12:26:21 PM
 #221

I think that the basics is buy low and sell when the price is high! It is not a secret even for non-traders who know market at least a bit. I am sure that this is the best way to trade and i also stick to this strategy

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June 02, 2018, 08:12:52 AM
 #222

all you need to know when you start trading in cryptocurrency is you have to have the skills that can determine the right time to buy and the right time to sell the coin and you should also be able to control your patience and do not be easily influenced by the talk of others.
There is no trader without skills. If you are newbie even, you have to make sure that all the basic knowledge regarding your coin must be known to you. If this isn’t the case right now, believe me you are making big mistake to invest your money in here. This is great pool of traders and chances are limited so you need to be efficient for making good impact of your investment.

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June 02, 2018, 09:32:14 AM
 #223

The key of success in trading is fully patient to wait for best price to entry, from my experience in trading i hasbeen lose in some trade because inpatient and too greedy. And for beginner will be better to trade in coins that has strong fundamental, so when we are wrong prediction the price still has posibillity to going up more. Learn also about charting and price pattern to know the trend of the coins, that will be start bullish, bearish or reversal. Important also to learn management of risk and money.

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June 02, 2018, 11:02:25 AM
 #224

Yes the first thing you need to do and know about Cryptocurrency trading is how risky and it is possible for you to lose all your investment in it. Trade is a professional game and a skilled person and is not recommended for anyone to get into it without the right skills and knowledge of how it works. You must be prepared for the worst and best because it is completely unpredictable in Cryptocurrecy trading.
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June 02, 2018, 11:34:56 AM
 #225

The most essential thing I believe is knowing first of all that there are times some coins are artificially pumped so they can take advantage of new/inexperienced traders. Do your own research
Before anything else you should first condition yourself that losing is inevitable when it comes to trading. Patience is a virtue in trading so you should also have a patience in yourself because not all the time trading is profitable. And lastly equipped yourself with basic knowledge about crypto and about trading.


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June 02, 2018, 12:44:53 PM
 #226

One thing is to develop the interest to trade another thing is how to start it,  as a beginner they are things you must do before you can trade successfully, firstly you have to choose a wallet (cryptocurrency wallet)  secondly you have to choose an exchange you want trade on. Most importantly you have no that cryptocurrency is volatile, that is you can make a trade in this minute and lose it in the next minute. Now when trading you go for less risky cryptocurrencies.
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June 02, 2018, 12:55:31 PM
 #227

Simple, you only need to wait. Waiting is the key in this crypto world. If you sold it in high price you must wait atleast days or weeks to buy in low price. Don't be emotional and doubt at it you need to stick on what you expect before you sold your tokens.

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June 02, 2018, 02:26:14 PM
 #228

Simple, you only need to wait. Waiting is the key in this crypto world. If you sold it in high price you must wait atleast days or weeks to buy in low price. Don't be emotional and doubt at it you need to stick on what you expect before you sold your tokens.
That's the common skills that you must have inside crypto, the more you know how to wait the better you will gain , patients is the key and whatever it takes better to make sure that you are willing to wait and you have lots of time to understand how the market will work, you should have more venue to
read news and to find out what would be the next updates in which the movement will bring gains to your assets, with the use of the internet it will be
much easier to play with the market and understand the trading business.

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aishyoo17
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June 02, 2018, 02:38:17 PM
 #229

What do I need to Know to Start Trading on Cryptocurrency? Can anyone help me?

Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
Before you start trading crypto you have to expect that crypto market is very crazy and this will drive you nuts so you have to learn the basic skills for you not to lose all your funds. You will not master the art of trading right away its always a trial and error in every trade you will make so you have to ready your emotion because you will have a roller coaster ride before you will be successful here.

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June 02, 2018, 02:55:21 PM
 #230

What do I need to Know to Start Trading on Cryptocurrency? Can anyone help me?

Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
All you need to do in getting started trading is to keep learning all the knowledge and knowledge that will help you in doing analysis to choose coin that you will buy. well with the passage of time then it will make you add experience. Knowledge, skill and experience is the initial capital to become a trader.

For now you will not be able to determine when to sell, buy and hold the coin you have. because it all must be in accordance with the circumstances and the existing situation. Well in these conditions you must determine what you will do. the most important is yourself you should be able to benefit from the margin of the sale and purchase coin you do.

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June 02, 2018, 03:11:45 PM
 #231

What do I need to Know to Start Trading on Cryptocurrency? Can anyone help me?

Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?

you need to know knowledge about trading and there is no just about hold and sell. many things you should to know before you start to trade like the coin which you will buy it, you can't buy the random coin at least buy the coin which has the future.
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June 02, 2018, 07:17:17 PM
 #232

What do I need to Know to Start Trading on Cryptocurrency? Can anyone help me?

Nowadays crypto trading is very popular, that's why I have some interest in it. is it all about HOLD or SELL?
Before you start trading crypto you have to expect that crypto market is very crazy and this will drive you nuts so you have to learn the basic skills for you not to lose all your funds. You will not master the art of trading right away its always a trial and error in every trade you will make so you have to ready your emotion because you will have a roller coaster ride before you will be successful here.
learn to control your emotion to be while you are make to start in trading everything that you must take for here are may only just based on your emotion technique.

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June 05, 2018, 09:30:45 AM
 #233

I think that the basics is buy low and sell when the price is high! It is not a secret even for non-traders who know market at least a bit. I am sure that this is the best way to trade and i also stick to this strategy
It is not all about hold or sell. It is much more than that. You have to be a market expert and should know the most liquid and profitable assets to invest in. You should have the technology understanding as well. This will help you opt a good technology for other services besides profit.

Some knowledge of economics, finance and monetary economics would not be that bad either and will give you good edge over other counterparts.

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June 05, 2018, 02:40:22 PM
 #234

Well, first thing’s first, you need to have a capital. Second, you need to look for a potential coin. How would you know if the coins has a potential in the future? Search for it, you can research about it here as well. Then if you’re sure enough with all of the info you know, buy it. Then that’s the time you will check if you’re going to hold it or sell it.

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June 05, 2018, 07:40:53 PM
 #235

You should have a plan fot trading, knowing your goals, be familiuar with token you want to trade and of course be aware of your character to avoid mistakes
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June 05, 2018, 08:01:18 PM
 #236

Hi, unfortunately it is not as simple as hodl or sell, i learned the hard way when I first started out and although i got 'rekt' (as they say!) i learned some valuable lessons! Dont make the same mistakes as I- though weirdly, they are a harsh learning curve!  Cry

1. I dived in blindly thinking that everything was going to keep on rising forever- of course its not and i realised that soon enough!
2. I didnt do any research of what projects i was getting into- best way to find out is to DYOR (do your own research) thoroughly
3. NEVER buy at an all time high (ATH) or you will be hit with a harsh reality.
4. Don't FOMO (fear of missing out) into a coin just because its moved 5-10% or see above for what happens  Roll Eyes
5. I dont profess to be a Technical Analysis expert, but basic knowledge of this will give you an inkling of whether the coin is going to move up or down, for example if it has risen lots over the past few days/weeks- expect a retrace. Conversely, if a coin is sitting in an accumulation zone then load up!

These are just a few of my basic tips, there is so much to learn and eventually you will get the hang of it. Until you find and perfect some basic trading fundamentals you are gambling blindly. Please take care and i wish you well.  Wink

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June 05, 2018, 09:42:48 PM
 #237

It's great that everyone is telling you that you should learn when to buy and sell, but no one is telling you to read at least a little bit about fundamentals in order to understand what you're investing in. Check out some of the things on this list, they might be helpful for you to actually learn something useful long-term:

https://lopp.net/bitcoin.html
https://medium.com/market-protocol/blockchain-crash-course-protocols-dapps-apis-and-dexs-4c324964f9c2
http://velascommerce.com/resources
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June 06, 2018, 04:44:07 PM
 #238

1 important thing - Just as with anything else in life, trading cryptocurrencies is context dependent. That means you should remain a
healthy sceptic about general truths, universal rules and things that "everyone knows". Consider the famous "buy low
sell high" dictum. The definition of high and low is subjective in most cases since it depends on your timescale, goals
and trading strategy. If you’re a hodler, as are many of the fellow redditors here, your high and low will differ
dramatically compared to the day trader's.
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June 06, 2018, 05:53:20 PM
 #239

Like all decisions in life, do your own research before putting a penny into cryptocurrencies. There are many good sources out there to help you get started!
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June 07, 2018, 01:35:38 AM
 #240

Personally, the important thing to me is pay attention to the trading fee and the trend of the market price, or else will get suffer only.
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