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Author Topic: Complete Newbie to Trading - Need some guidance  (Read 116 times)
Mateo123
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April 25, 2018, 09:40:06 AM
 #21

Hi all, I am a complete newbie to the concept of Trading and Cryptocurrencies. I have a 15hr day job, so I can spend barely an hour or 2 for trading and it's related stuff. I have googled about trading and came up with a lot of stuff related to Forex trading. I read somewhere that Forex trading is completely different from Crypto Trading.

I know that I have start trading with less investment to learn more. So, if any experienced trader here could show me the right direction? Like a good learning website, books preferably videos or youtube channel, how to read charts etc

THANKS in advance



Im still learning ,just start the basic knowledge usually i keep reading in this forum ,a lot of important information you may get,google,youtube is advisable also in learning new things,be researcheable, asking questions in this forum helps you also.
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ahoenk
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April 25, 2018, 01:51:38 PM
 #22

Crypto trading is not like forex. 2 hours is enough for profesional trader. For newbie you need more time to learn about chart, candlestick, indicator, support, resistence and many fundamental analisi indicator. Dont start with big money. Traine your emotion in trading is more important then anything base on my experience.

PX-Z
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April 25, 2018, 03:00:58 PM
 #23

I think it could be difficult for you to become a good trader, because traders needs a lot of time to monitor of the market value of their holdings. And it seems that you are lack of time to monitor of it, because of your current job that takes 15 hours a day, and the two hours that you will spend on trading is not enough. If i were you, i will choose long term investment, because it lesser the risk and you don't have to spend a lot of time by monitoring the market value of your holdings.
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April 26, 2018, 04:20:15 PM
 #24

Don't trade according to your feelings always try to learn news before everyone else and learn technical analysis they are really useful for trading.
Well, trading according to your feelings is something you cannot run from as long as you do have any idea of trading and it is a good thing that the OP is really ready to start learning. However, there is a little but in his time since he has only 15 hours on his job and that would really make him find it hard to do even a short term trading, let alone day.

I would consider going the long term way and selling at peaks, then buying back again when the market corrects. It would not always take much time but a lot of knowledge on how to use the indicators would really be necessary.

so98nn
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April 26, 2018, 05:04:49 PM
 #25

If you are new to trading then i will suggest that control your emotions while trading and use your brain.Make technical analysis of the market and get speculation regarding pump and dump situation that can arise in market and affect your profits.Keep an eye on news regarding particular coin in which you are investing.Else you will learn a lot many things after gaining knowledge and experience.

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April 28, 2018, 07:44:47 AM
 #26

Since you will be having a hard time in trading due tontime constraints, I suggest you taking time to read or watch youtube on how to invest in cryptocurrency properly, since you will be needing to take care of your investments you need security, make sure you and only you have access to your wallets. In regards to videos in youtube, I watched a lot, I didn't focused mainly on one channel, since they will have different opinions and will hype whatever coin that they have, make sure to check coinmarketcap.com for the coins that they are promoting and check if the chart is correct on what they are saying on the videos, for the site, this forum is a great help, read the topics you want in the trading discussion as well as on bitcoin, in order for you to be updated on the trends and be aware of the market, since it is volatile.
That is just the best one here. Actually long term style of trading is actually one of the easiest anyone can ever do most especially when trading altcoins. The most important thing is never to buy any moving market or you should be buying market that is still at their dip or showing some signals. Also, it is always good to look for a market that is consolidating and showing some divergence as that makes it easy for anyone to have the best of the market in such situations.

wuvdoll
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April 28, 2018, 09:54:51 AM
 #27

I am a complete newbie to the concept of Trading and Cryptocurrencies. I have a 15hr day job, so I can spend barely an hour or 2 for trading and it's related stuff. I have googled about trading and came up with a lot of stuff related to Forex trading. I read somewhere that Forex trading is completely different from Crypto Trading.
Firstly, since you have 15 hrs day job, you may actually want to consider the long term style of trading which you would not have any worries about trying to look at the chart every minute and anything outside that, you are obviously going to end up stressing yourself with your 15 hrs job.

I know that I have start trading with less investment to learn more. So, if any experienced trader here could show me the right direction? Like a good learning website, books preferably videos or youtube channel, how to read charts etc
If you want to learn, you only have to know what you are looking for and get some specific article on that. I would say you should learn how to use the indicators in making a good trade as that would really help you.

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April 28, 2018, 05:10:09 PM
 #28

Thanks, Guys for helping me understand that trading needs a lot of dedication and it'll be a waste of time because of my time constraint. I'll take your advice and will look into long-term investments.
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