Complete Newbie to Trading - Need some guidance

[akhjob]

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

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[Sanjeewa101]

I'm not a pro trader, First Advice " don't invest you afford to lose mainly in cryptocurrency because of price volatility".
Day trading can make a small profit, Do better analyze before trading both TA and Fundamental
Long-Term Holding can make a lot of profit when you investing good interesting blockchain startup project.

[ivrynx]

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.

[DaMut]

it is ok if you are completely newbie in this aspect(technical analysis) because it's far from those thing.
if you want to know and learn how to do the trade,
everything that you need to do is doing the research about something that you want to invest not about how to do the trade.
as a start,try to pick 1 project that suit you and do the research about it.
just focus about it and set your goal.
with time you should understand how to handle it and feel it.

good luck

[Lynks]

Go to YouTube and downlaod some videos
On trading it will help you alot

[renes]

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.

[Commie]

Start by reading this: https://books.google.co.th/books/about/Technical_Analysis_of_the_Financial_Mark.html A must read for every beginner.

[Jake2134]

First of, trading can be a very good opportunity but  you need to be very serious on it if you want to be successful. i didn't saw anyone or heard that didn't became successful without any hard-work put onto it. and learn the basics to get that foundation you need in trading.

[vidprab5]

First of, trading can be a very good opportunity but  you need to be very serious on it if you want to be successful. i didn't saw anyone or heard that didn't became successful without any hard-work put onto it. and learn the basics to get that foundation you need in trading.

Trading is the best method of getting rich and if we talk about bitcoin trading, I think this is the most beneficial profession on the face of earth. But with big rewards come big challenges too. Dealing with the digital market and then with the most fluctuating coin indeed lays some pressure on the person. Many people give up because the journey seems to be more than their capacity.

[Nhebu]

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

FOREX trading and crypto trading are just a pace similar. What you viewed in forex trading tutorial in youtube can use also in crypto trading. I don't try to trade in FOREX but my brother in law said that they are quiet similar. Similar in a way that both of them is using candlesticks and TA in order to predict the next move of the price. Crypto and FOREX trading are profitable, that's why I want to trade from that two.

[metenjean]

Its pretty similar in the form of liquidity but nowadays crypto market is more volatile than forex market. I would suggest you to do some researched about what you want to trade and how much capital you would invest at first. In my opinion, you should never combine your day job with trading so if you only have 1-2 hour for trading then go for swing trade rather than daytrade. 

[chris200x9]

I have a 15hr day job, so I can spend barely an hour or 2 for trading and it's related stuff.

Since you do not have much time to spend and do research on coins and when to sell and buy so I suggest don't jump into trading because in trading timing is very important to make a profit in short term. You can start with just investing in some good coins and hold them until you reach your profit target because here you no need to monitor market regularly instead one or times you can check the prices of your coins.

[haroldtee]

It is good you are really willing to learn and I recommend this website most especially to learn how to make use of different indicators and do some technical analysis in any market as well as the ability to make some good decisions.

https://tradingstrategyguides.com/blog/ - Huge load of resources to learn from on this site for free.

Furthermore, you are going to have a little bit of issue trading daily with your time, so I am going to advise you to go the long term way (concentrate on longer time frames, at least daily time frame). Buy at dips during accumulation, most especially alts, if you want to increase your BTC holding and you will be able to do that using divergence on MACD, RSI, Volume and DMI indicator. Then with that, you can hold for a while and sell into FOMO or set sell orders based on past resistances and support and go through with the cycle again when the alts are in deep correction. Nevertheless, learn all you can and find the one that can work best for you.

[Markyway88]

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

You will not earn much in trading since you have just 2 hours vacancy and a trader looks everytime in the chart. If you want to have some profits in trading you can buy coins that is for a long term period. If you will be a day trader, expect that you can't play your coins because you are busy with your job. I do not discourage you to quit you job but a trader must be active everytime in exchange because anytime, price can fluctuate.

[akhjob]

Start by reading this: https://books.google.co.th/books/about/Technical_Analysis_of_the_Financial_Mark.html A must read for every beginner.

Guys! Thanks for all the guidance. But I feel that all the answers I get are more generalized. I would like some examples/suggestions rather than the generalized approach. Something similar to the post above - Thanks commie, I will have a look at it.

Since you do not have much time to spend and do research on coins and when to sell and buy so I suggest don't jump into trading because in trading timing is very important to make a profit in short term. You can start with just investing in some good coins and hold them until you reach your profit target because here you no need to monitor market regularly instead one or times you can check the prices of your coins.

Thanks, Chris for your genuine answer. Yes, I have been learning stuff and investing in some good coins as of now. But I don't want to stop there, I want to experience the benefit of trading. I am not trying to jump into trading, I am just trying to figure out how to improve (learn) my trading skills and how can I benefit from it in the future. And I am not going to day-trading because of my time constraint. I just want to learn to trade and when the time is right, I want to experience the pleasantries of trading.

Pardon if my English is wrong and the usage of wrong dictions. I hope that I have conveyed myself clear 

[Supercrypt]

I'm not a pro trader, First Advice " don't invest you afford to lose mainly in cryptocurrency because of price volatility".
Day trading can make a small profit, Do better analyze before trading both TA and Fundamental
Long-Term Holding can make a lot of profit when you investing good interesting blockchain startup project.

That is always a good advice most especially for beginners. Even after learning all you have needed to learn and you are so confident in yourself, you will also need some level of practice to be able to guarantee yourself that you are ready to go.

Trading is not easy, but if done well, you will always find it interesting but you need that confidence to be able to trade the market effectively. Long term holding or long term trading is actually the perfect one for the OP's kind of job and with that I would say he should learn how to use MACD, RSI and trend line on a daily chart as well as the ability to be able to read candles. Google should be of help with these ones.

[Awesomus Maximus]

to increase your BTC holding and you will be able to do that using divergence on MACD, RSI, Volume and DMI indicator.

How reliable these indicators are? If most of the good traders a using them, then it has to be the inexperienced traders that are screwed.

Then with that, you can hold for a while and sell into FOMO or set sell orders based on past resistances and support and go through with the cycle again when the alts are in deep correction. Nevertheless, learn all you can and find the one that can work best for you.

I think all of this works until there is a large sudden change. Then two things are possible: either you are in a large plus, or large minus.

[aervin11]

I suggest you to follow DataDash at youtube. He is pretty famous when in terms of TA tutorials and he's doing a great job. Probably you'll learn a lot from his videos.

[Pursuer]

if you can't spend the time on learning it and then doing it then it is probably best that you don't start wasting your time with trading at all. because with 15 hour/day job you have no time to learn trading and that takes quite a lot of time and then the trading itself will take a lot of time too, specially when you are a beginner and need to spend more time analyzing everything and every move you have made in the past so that you can gain experience.  and being successful in trading is just that: experience. if you can't gain it then you will never be successful.

[Mateo123]

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.